Posted September 26, 2018

U.S. new home sales climb 3.5 percent in August

Average selling price is $388,000.

September 26, 2018 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for August 2018:

New Home Sales
Sales of new single-family houses in August 2018 were at a seasonally adjusted annual rate of 629,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.5 percent (±13.7 percent)* above the revised July rate of 608,000 and is 12.7 percent (±20.7 percent)* above the August 2017 estimate of 558,000.

Sales Price
The median sales price of new houses sold in August 2018 was $320,200. The average sales price was $388,400.

For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of August was 318,000. This represents a supply of 6.1 months at the current sales rate.