New home sales fall in July

New single-family home sales fell to a seasonally adjusted annual rate of 511,000 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The July level is 8.1% below the revised June rate of 585,000 and is 29.6% below the July 2021 estimate of 726,000.

The median sales price of new houses sold in July 2022 was $439,400. The average sales price was $546,800

At the end of July, the seasonally adjusted estimated supply at the current sales rate was at 10.9 months.

Read the Census/HUD release.