New Residential Sales Climb 3.6 Percent in July

Sales trend 25.3 percent ahead of July 2011 rate.

Sales of new single-family houses in July 2012 were at a seasonally adjusted annual rate of 372,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 3.6 percent (±14.1%)* above the revised June rate of 359,000 and is 25.3 percent (±18.2%) above the July 2011 estimate of 297,000.

The median sales price of new houses sold in July 2012 was $224,200; the average sales price was $263,200. The seasonally adjusted estimate of new houses for sale at the end of July was 142,000. This represents a supply of 4.6 months at the current sales rate.