US New Residential Single-Family Home Sales Increase in July

Posted on August 23, 2023

The US Census Bureau and the Department of Housing and Urban Development jointly announced on Wednesday (8-23-23) that new residential single-family home sales for July were at a seasonally adjusted annual rate (SAAR) of 714,000, according to estimates. This is 4.4% above the revised June rate of 684,000 and 31.5% above the July 2022 estimate of 543,000.

The median sales price of new houses sold in July was $436,700. The average sales price was $513.000.

The seasonally adjusted estimate of new houses for sale at the end of July was 437,000. This represents a supply of 7.3 months based on the current rate of sales.

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