U.S. New Home Sales Slide 8.7% in August
Average sales price was $514,000.
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 2023:
New Home Sales
Sales of new single‐family houses in August 2023 were at a seasonally adjusted annual rate of 675,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.7 percent (±15.6 percent)* below the revised July rate of 739,000, but is 5.8 percent (±21.1 percent)* above the August 2022 estimate of 638,000.
Sales Price
The median sales price of new houses sold in August 2023 was $430,300. The average sales price was $514,000.
For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of August was 436,000. This represents a supply of 7.8 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
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