New Home Sales Declined 12.6% in July

Washington, DC, August 23, 2022-Sales of new single‐family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development, 12.6% below the revised June rate of 585,000 and is 29.6% below the July 2021 estimate of 726,000.

The median sales price of new houses sold in July 2022 was $439,400. The average sales price was $546,800.

The seasonally‐adjusted estimate of new houses for sale at the end of July was 464,000. This represents a supply of 10.9 months at the current sales rate.