July New Home Sales Up 1.0% Month-Over-Month but Down Year-Over-Year

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly reported that new residential single-family home sales for July 2021 were at a SAAR of 708,000, according to estimates. This is 1.0% above the revised June rate of 701,000 but is -27.2% below the July 2020 estimate of 972,000.

The seasonally adjusted estimates of new houses for sales at the end of July was 367,000. This represents a 6.2 months’ supply based on the current rate of sales.

The median sales price of new houses sold in July 2021 was $390,500. The average sales price was $446,000.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Original Source: