August sees a 5% decline in new US single-family home sales

Posted on September 26, 2024   |  

In August, the seasonally adjusted annual rate (SAAR) of new single-family home sales was 716,000, a 4.7% decrease from July's revised rate of 751,000.

Sales in August were still 9.8% higher than the estimate of 652,000 from the same month in 2023.

The median price of new homes sold in August was $420,600, with an average price of $492,700.

At the end of August, there were about 467,000 new homes available for sale, seasonally adjusted.

Based on current sales rates, the supply of new homes is expected to last 7.8 months.