New Home Sales Rose 10.6% in July

Washington, DC, August 23, 2024-Sales of new single-family houses in July 2024 were at a seasonally adjusted annual rate of 739,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development, 10.6% above the revised June rate of 668,000 and 5.6% above the July 2023 estimate of 700,000.

The median sales price of new houses sold in July 2024 was $429,800. The average sales price was $514,800.

The seasonally-adjusted estimate of new houses for sale at the end of July was 462,000. This represents a supply of 7.5 months at the current sales rate.