New home sales rebound in August

New single-family home sales rose to a seasonally adjusted annual rate of 685,000 in August, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The August level is 28.8% above the revised July rate of 532,000 but is 0.1% below the August 2021 estimate of 686,000.

The median sales price of new houses sold in August 2022 was $436,800. The average sales price was $521,800

At the end of August, the seasonally adjusted estimated supply at the current sales rate was at 8.1 months.

Read the Census/HUD release.