U.S. New Home Sales Climb 10.6% for Month in July
Average sales price runs $514,800.
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 2024:
New Home Sales
Sales of new single-family houses in July 2024 were at a seasonally adjusted annual rate of 739,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 10.6 percent (±16.5 percent)* above the revised June rate of 668,000 and is 5.6 percent (±21.3 percent)* above the July 2023 estimate of 700,000.
Sales Price
The median sales price of new houses sold in July 2024 was $429,800. The average sales price was $514,800.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of July was 462,000. This represents a supply of 7.5 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
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