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 2022: New Home Sales – Sales of new single‐family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.6 percent (±16.9 percent)* below the revised June rate of 585,000 and is 29.6 percent (±10.9 percent) below the July 2021 estimate of 726,000. Sales Price – The median sales price of new houses sold in July 2022 was $439,400.  The average sales price was $546,800. For Sale Inventory and Months’ Supply – The seasonally‐adjusted estimate of new houses for sale at the end of July was 464,000.  This represents a supply of 10.9 months at the current sales rate.