US Sales of New Residential Single-Family Homes Up 28.8% Month-Over-Month in August

On Tuesday (9-27-22), the US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for August were at a seasonally adjusted annual rate (SAAR) of 685,000, according to estimates. This is 28.3% above the revised July 2022 rate of 532,000, but it is 0.1% below the August 2021 estimate of 686,000.

The median sales price of new houses sold in August was $436,800. The average sales price was $521,800.

The seasonally adjusted estimates of new houses for sale at the end of August was 461,000. This represents an 8.1-month supply based on the current rate of sales.

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