New-home sales improved modestly in June

WASHINGTON – U.S. sales of new homes perked up slightly in June, a sign that more would-be buyers are seeking newly built properties.

The Commerce Department said new-home sales edged up 0.8 percent in June to a seasonally adjusted annual rate of 610,000. Sales have registered a healthy 10.9 percent increase so far this year.

The gains come amid a broader shortage of homes listed for sale. While purchases of new homes are steadily improving, the sales totals remain below historic averages as builders contend with a lack of land for construction, a shortage of workers and some rising costs for materials.

The median sales price of a new home fell 3.3 percent to $310,800.

There were 272,000 new homes on the market in June, the most since June 2009.