WASHINGTON, D.C. — Sales of new single-family homes jumped sharply in August, rising 20.5 percent from July and outpacing last year’s levels, according to data released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.
The seasonally adjusted annual rate of new home sales reached 800,000, up from 664,000 in July and 693,000 in August 2024. The increase came as the supply of available homes tightened, with 490,000 units on the market at the end of August — down from the previous month but still slightly above last year’s inventory.
At the current pace, that inventory represents 7.4 months of supply, a notable decline from July’s nine months and from 8.2 months a year earlier.
Prices also rose alongside the sales surge. The median price for new homes sold in August climbed to $413,500, up from $395,100 in July and $405,800 a year earlier. The average price jumped even more, reaching $534,100, compared with $478,200 in July and $475,600 in August 2024.
The report signals renewed momentum in the housing market heading into the fall, though analysts caution that wide margins of error in the government’s estimates can make monthly swings volatile. The next update, covering September sales, is scheduled for release on October 24.
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