New single family homes sales fell 1 percent to a seasonally adjusted 312,000-unit annual rate.

The median price for a new home rose 5.8 percent last month to $235,200.

Compared to June last year, the median price rose 7.2 percent. The rise in home prices is the latest sign that home values are starting to get stable.

The number of new homes for sale last month dropped to a record low of 164,000, the Commerce Department said.