July New Home Sales Up 12.4%, Hit Highest Rate Since Oct. 2007

Washington, DC, August 23, 2016—Sales of new single-family houses in July 2016 were at a seasonally adjusted annual rate of 654,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 12.4% above the revised June rate of 582,000 and is 31.3% above the July 2015 estimate of 498,000.

The median sales price of new houses sold in July 2016 was $294,600; the average sales price was $355,800. The seasonally adjusted estimate of new houses for sale at the end of July was 233,000. This represents a supply of 4.3 months at the current sales rate.