diff --git a/src/WebformBuilder.js b/src/WebformBuilder.js
index 6581e6b4a1..047abb30ef 100644
--- a/src/WebformBuilder.js
+++ b/src/WebformBuilder.js
@@ -1361,6 +1361,7 @@ export default class WebformBuilder extends Component {
 
       const rebuild = parentComponent.rebuild() || Promise.resolve();
       return rebuild.then(() => {
+        parentComponent.resetValue();
         const schema = parentContainer ? parentContainer[index] : (comp ? comp.schema : []);
         this.emitSaveComponentEvent(
           schema,
diff --git a/test/unit/WebformBuilder.unit.js b/test/unit/WebformBuilder.unit.js
index 3352982454..e9413a5c18 100644
--- a/test/unit/WebformBuilder.unit.js
+++ b/test/unit/WebformBuilder.unit.js
@@ -602,6 +602,154 @@ describe('Select Component selectData property', () => {
     }).catch(done);
   });
 
+  it('Should show correct default value for select component in form builder', (done) => {
+    const builder = Harness.getBuilder();
+    builder.setForm({}).then(() => {
+      Harness.buildComponent('select');
+
+      setTimeout(() => {
+        const dataSrc = builder.editForm.getComponent('dataSrc');
+        dataSrc.setValue('url');
+        const url = builder.editForm.getComponent(['data.url']);
+        const valueProperty = builder.editForm.getComponent('valueProperty');
+        url.setValue('htts//fakeurl.com');
+        valueProperty.setValue('value');
+
+        setTimeout(() => {
+          const defaultValue = builder.editForm.getComponent('defaultValue');
+          assert.equal(defaultValue.type, 'select');
+          defaultValue.setValue('value1');
+          defaultValue.updateItems(null, true);
+
+          setTimeout(() => {
+            assert.deepEqual(builder.editForm.data.selectData, {
+              label: 'Label 1',
+            });
+            Harness.saveComponent();
+            setTimeout(() => {
+              assert.equal(
+                builder.webform.getComponent('select').element.querySelector('[aria-selected="true"] span').innerHTML,
+                'Label 1',
+              );
+
+              const click = new MouseEvent('click', {
+                view: window,
+                bubbles: true,
+                cancelable: true
+              });
+
+              builder.webform.getComponent('select').element
+                .querySelector('.component-settings-button-edit')
+                .dispatchEvent(click);
+
+              setTimeout(() => {
+                const defaultValue = builder.editForm.getComponent('defaultValue');
+                assert.equal(defaultValue.type, 'select');
+                defaultValue.setValue('value2');
+                defaultValue.updateItems(null, true);
+
+                setTimeout(() => {
+                  assert.deepEqual(builder.editForm.data.selectData, {
+                    label: 'Label 2',
+                  });
+                  Harness.saveComponent();
+                  setTimeout(() => {
+                    assert.equal(
+                      builder.webform.getComponent('select').element.querySelector('[aria-selected="true"] span').innerHTML,
+                      'Label 2',
+                    );
+                    done();
+                  }, 150);
+                }, 250);
+              }, 500);
+            }, 150);
+          }, 250);
+        }, 250);
+      }, 150);
+    }).catch(done);
+  });
+
+  it('Should show correct default value for multiple select component in form builder', (done) => {
+    const builder = Harness.getBuilder();
+    builder.setForm({}).then(() => {
+      Harness.buildComponent('select');
+
+      setTimeout(() => {
+        const multiple = builder.editForm.getComponent('multiple');
+        multiple.setValue(true);
+        const dataSrc = builder.editForm.getComponent('dataSrc');
+        dataSrc.setValue('url');
+        const url = builder.editForm.getComponent(['data.url']);
+        const valueProperty = builder.editForm.getComponent('valueProperty');
+        url.setValue('htts//fakeurl.com');
+        valueProperty.setValue('value');
+
+        setTimeout(() => {
+          const defaultValue = builder.editForm.getComponent('defaultValue');
+          assert.equal(defaultValue.type, 'select');
+          defaultValue.setValue(['value1', 'value3']);
+          defaultValue.updateItems(null, true);
+
+          setTimeout(() => {
+            assert.deepEqual(builder.editForm.data.selectData, {
+              value1: {
+                label: 'Label 1',
+              },
+              value3: {
+                label: 'Label 3',
+              },
+            });
+            Harness.saveComponent();
+            setTimeout(() => {
+              const elements = builder.webform.getComponent('select').element.querySelectorAll('.choices__list--multiple span');
+              assert.deepEqual(
+                Array.prototype.map.call(elements, (element) => element.innerHTML),
+                ['Label 1', 'Label 3'],
+              );
+
+              const click = new MouseEvent('click', {
+                view: window,
+                bubbles: true,
+                cancelable: true
+              });
+
+              builder.webform.getComponent('select').element
+                .querySelector('.component-settings-button-edit')
+                .dispatchEvent(click);
+
+              setTimeout(() => {
+                const defaultValue = builder.editForm.getComponent('defaultValue');
+                assert.equal(defaultValue.type, 'select');
+                defaultValue.setValue(['value2', 'value3']);
+                defaultValue.updateItems(null, true);
+
+                setTimeout(() => {
+                  assert.deepEqual(builder.editForm.data.selectData, {
+                    value2: {
+                      label: 'Label 2',
+                    },
+                    value3: {
+                      label: 'Label 3',
+                    },
+                  });
+                  Harness.saveComponent();
+                  setTimeout(() => {
+                    const elements = builder.webform.getComponent('select').element.querySelectorAll('.choices__list--multiple span');
+                    assert.deepEqual(
+                      Array.prototype.map.call(elements, (element) => element.innerHTML),
+                      ['Label 2', 'Label 3'],
+                    );
+                    done();
+                  }, 150);
+                }, 250);
+              }, 500);
+            }, 150);
+          }, 250);
+        }, 250);
+      }, 150);
+    }).catch(done);
+  });
+
   after((done) => {
     Formio.makeRequest = originalMakeRequest;
     Harness.builderAfter(done);