New home sales rise 13.9 percent in July
Average sales price is $391,300.
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 2020:
New Home Sales
Sales of new single-family houses in July 2020 were at a seasonally adjusted annual rate of 901,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 13.9 percent (±20.0 percent)* above the revised June rate of 791,000 and is 36.3 percent (±27.4 percent) above the July 2019 estimate of 661,000.
Sales Price
The median sales price of new houses sold in July 2020 was $330,600. The average sales price was $391,300.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of July was 299,000. This represents a supply of 4.0 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
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