August New Home Sales Down 7.6% from July but Up 20.6% YOY

Washington, DC, September 26, 2016—Sales of new single-family houses in August 2016 were at a seasonally adjusted annual rate of 609,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.6% below the revised July rate of 659,000, but is 20.6% above the August 2015 estimate of 505,000.

The median sales price of new houses sold in August 2016 was $284,000; the average sales price was $353,600. The seasonally adjusted estimate of new houses for sale at the end of August was 235,000. This represents a supply of 4.6 months at the current sales rate.