August New-Home Sales Down 4.7% from July But Up 9.8% YOY

Washington, DC, September 25, 2024-Sales of new single-family houses in August 2024 were at a seasonally adjusted annual rate of 716,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 4.7% below the revised July rate of 751,000 but 9.8% above the August 2023 estimate of 652,000.

The median sales price of new houses sold in August 2024 was $420,600. The average sales price was $492,700.

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