US New Home Sales Rebound

Sales of new single-family houses in the US rose 5.4 percent to a seasonally adjusted annual rate of 507,000 units in July, recovering from fall in June.

Figures for June were revised downwards to show new home sales fell at a faster 7.7 percent to 481 thousand from 482 thousand previously reported.

Sales in the Northeast went up for the third straight month and recorded the highest increase (23.1 percent), followed by the West (6.7 percent) and the South (5.8 percent) while sales in the Midwest shrank 6.9 percent. 

The median sales price of new houses sold in July 2015 was $285,900; the average sales price was $361,600. The seasonally adjusted estimate of new houses for sale at the end of July was 218,000. This represents a supply of 5.2 months at the current sales rate (5.4 in May).

US New Home Sales Rebound

U.S. Census Bureau | Joana Taborda |
8/25/2015 3:15:22 PM