Today 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 2024:
New Home Sales
Sales of new single-family houses in August 2024 were at a seasonally adjusted annual rate of 716,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.7 percent (±10.6 percent)* below the revised July rate of 751,000, but is 9.8 percent (±22.1 percent)* above the August 2023 estimate of 652,000.
Sales Price
The median sales price of new houses sold in August 2024 was $420,600. The average sales price was $492,700.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of August was 467,000. This represents a supply of 7.8 months at the current sales rate.