New Home Sales Rise in July

New single-family home sales rose to a seasonally adjusted annual rate of 708,000 in July, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The June level is 1.0% above the revised June rate of 701,000 but is 27.2% below the July 2020 estimate of 972,000.

The median sales price of new houses sold in July 2021 was $390,500. The average sales price was $446,000.

At the end of July, the seasonally adjusted estimated supply at the current sales rate was at 6.2 months.

Read the Census/HUD release.