New Home Sales Up 31.5% YOY in July

Washington, DC, August 23, 2023-Sales of new single‐family houses in July 2023 were at a seasonally adjusted annual rate of 714,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 4.4% above the revised June rate of 684,000 and 31.5% above the July 2022 estimate of 543,000.

The median sales price of new houses sold in July 2023 was $436,700. The average sales price was $513,000.

The seasonally adjusted estimate of new houses for sale at the end of July was 437,000. This represents a supply of 7.3 months at the current sales rate.