US New Home Sales Rebound

Sales of new single-family houses in the United States jumped 3.5 percent from the previous month to a seasonally adjusted annual rate of 629 thousand in August of 2018, following a downwardly revised 1.6 percent drop in July. It compares with market expectations of a 0.5 percent rise to 630 thousand. Sales jumped in the Northeast but fell in the South.

Sales surged 47.8 percent to 34 thousand in the Northeast and rose in the West (9.1 percent to 168 thousand) and the Midwest (2.7 percent to 77 thousand). In contrast, sales declined 1.7 percent to 350 thousand in the South. 

The median sales price of new houses sold was USD 320,200 above USD 314,200 in the same month of the previous year. The average sales price jumped to USD 388,400 in August from USD 369,200 a year earlier.

The stock of new houses for sale went up 1.6 percent to 318 thousand, the most since February of 2009. This represents a supply of 6.1 months at the current sales rate, down from 6.2 months in July.

Year-on-year, new home sales increased 12.7 percent. 

US New Home Sales Rebound

US Census Bureau | Joana Taborda |
9/26/2018 2:16:32 PM