Posted August 23, 2023

U.S. New Home Sales rise 4.4% in July

Average sales price was $513,000.

New Home Sales
Sales of new single‐family houses in July 2023 were at a seasonally adjusted annual rate of 714,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.4 percent (±12.8 percent)* above the revised June rate of 684,000 and is 31.5 percent (±16.3 percent) above the July 2022 estimate of 543,000.

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

For Sale Inventory and Months’ Supply
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.