Sales of new single-family homes reached a seasonally adjusted annual rate of 716,000 in August, according to data released by the United States Census Bureau and the Department of Housing and Urban Development on Wednesday.
This figure reflects a month-over-month decline of 4.7%, although it shows a significant annual increase of 9.8%.
In terms of pricing, the median sales price for new homes sold in August was $420,600, with the average sales price at $492,700. Additionally, the seasonally adjusted estimate for new houses available for sale at the end of June stood at 467,000, indicating a supply of 7.8 months at the current sales pace.
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