The U.S. Census Bureau and Department of Housing and Urban Development reported that sales of new single-family homes in the U.S. reached a seasonally adjusted annual rate of 800,000 units in August, the highest level since January 2022. This represents a 20.5% increase compared to July and a 15.4% increase year-over-year.
The median sales price for new homes was $413,500, while the average sales price was $534,100.
The seasonally adjusted estimate of new houses for sale was 490,000 units, representing a supply of 7.4 months at the current sales rate.
