Sales of new single-family houses in August 2016 were at a seasonally adjusted annual rate of 609,000, according to estimates released jointly today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This is 7.6 percent (±10.7percent below the revised July rate of 659,000, but is 20.6 percent (±14.8percent) above the August 2015 estimate of 505,000.
The median sales price of new houses sold in August 2016 was $284,000; the average sales price was $353,600. The seasonally adjusted estimate of new houses for sale at the end of August was 235,000. This represents a supply of 4.6 months at the current sales rate.
HUD, Census Bureau report new residential sales
The median sales price of new houses sold in July was $294,600; the average sales price was $355,800. The seasonally adjusted estimate of new houses for sale at the end of July was 233,000. This represents a supply of 4.3 months at the current sales rate.