New Single-Family Home Sales in the West Led the Nation in August

In a press release by the US Census Bureau and the Department of Housing and Urban Development, national new single-family homes sales in August made double-digit gains. On a seasonally adjusted basis, new single-family home sales were estimated at 504,000 in August and were 18% greater than July’s rate of 427,000. Compared to the same time last year, August’s new single-family home sales were up by 33%.

The average sales price for new single-family homes was $347,900 while the median sales price was $275,600. The estimated supply of “new houses for sale at the end of August was 203,000” representing a 4.8-month supply “at the current sales rate.”

Regionally, the West led the nation with the largest increases in new single-family home sales month-over-month and year-over-year. New single-family home sales in August were 50% greater than in July and 84.3% greater than a year ago. To see the full press release, visit http://1.usa.gov/10tP2Rv.

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