New US Residential Single-Family Home Sales Decline 4.7% in August

Posted on September 25, 2024

On Wednesday, the US Census Bureau and Department of Housing and Urban Development jointly announced that new residential single-family home sales in August were at a seasonally adjusted annual rate (SAAR) of 716,000, according to estimates. This is 4.7% below the revised July rate of 751,000 (originally 739,000) but 9.8% above the August 2023 estimate of 652,000.

The median sales price of new houses sold in August was $420,600. The average sales price was $492,700.

The seasonally adjusted estimate of new houses for sale at the end of the month was 467,000. This represents a supply of 7.8 months based on the current rate of sales.

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