July New Home Sales Up 12.8% YOY

Washington, DC, August 23, 2018-Sales of new single-family houses in July 2018 were at a seasonally adjusted annual rate of 627,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 1.7% below the revised June rate of 638,000 but is 12.8% above the July 2017 estimate of 556,000.

The median sales price of new houses sold in July 2018 was $328,700. The average sales price was $394,300.

The seasonally-adjusted estimate of new houses for sale at the end of July was 309,000. This represents a supply of 5.9 months at the current sales rate.