US New Residential Single-Family Home Sales Decline Month-Over-Month in August

Posted on September 26, 2023

The US Census Bureau and the Department of Housing and Urban Development jointly announced on Tuesday (9-26-23) that new residential single-family home sales for August were at a seasonally adjusted annual rate (SAAR) of 675,000, according to estimates. This is 8.7% below the revised July rate of 739,000 but 5.8% above the August 2022 estimate of 638,000.

The median sales price of new houses sold in August was $430,300. The average sales price was $514.000.

The seasonally adjusted estimate of new houses for sale at the end of August was 436,000. This represents a supply of 7.8 months based on the current rate of sales.

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