(08-23-18)

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 2018: New Home Sales – Sales of new single-family houses in July 2018 were at a seasonally adjusted annual rate of 627,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 1.7 percent (±14.7 percent)* below the revised June rate of 638,000, but is 12.8 percent (±15.7 percent)* above the July 2017 estimate of 556,000. Sales Price – The median sales price of new houses sold in July 2018 was $328,700. The average sales price was $394,300. For Sale Inventory and Months’ Supply – The seasonally-adjusted estimate of new houses for sale at the end of July was 309,000. This represents a supply of 5.9 months at the current sales rate.