US New Home Sales at 7-1/2-Year High

Sales of new single-family houses rose 5.7 percent to a seasonally adjusted annual rate of 552,000 in August. It is the highest figure since February of 2008.

Figures for July were revised upwards to show new home sales jumped 12 percent (5.4 percent previously) to 522 thousand from 507 thousand previously reported.

Sales in the Northeast surged 24.1 percent, sales in the South increased 7.4 percent and those in the West rose 5.4 percent while sales in the Midwest shrank 9.1 percent. 

The median sales price of new houses sold in August 2015 was $292,700; the average sales price was $353,400. The seasonally adjusted estimate of new houses for sale at the end of August was 216,000. This represents a supply of 4.7 months at the current sales rate (5.2 in July).

Year-on-year, new home sales went up 21.6 percent.

US New Home Sales at 7-1/2-Year High

US Census Bureau | Joana Taborda |
9/24/2015 3:22:17 PM