New home sales dip 1.7 percent in July
Average selling price was $394,300.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development
jointly announced the following new residential sales statistics for July 2018:
New Home Sales
Sales of new single-family houses in July 2018 were at a seasonally adjusted annual rate of 627,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.7 percent (±14.7 percent)* below the revised June rate of 638,000, but is 12.8 percent (±15.7 percent)* above the July 2017 estimate of 556,000.
Sales Price
The median sales price of new houses sold in July 2018 was $328,700. The average sales price was $394,300.
For Sale Inventory and Months’ Supply
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.
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