WASHINGTON, D.C. — The U.S. Census Bureau and the Department of Housing and Urban Development reported a notable increase in new home sales for July 2024.
Sales reached a seasonally adjusted annual rate of 739,000, marking a 10.6% rise from June’s revised figure of 668,000 and 5.6% above the July 2023 estimate of 700,000.
The median sales price for new homes was recorded at $429,800, while the average price stood at $514,800.
The inventory of new homes available at the end of July was estimated at 462,000, equating to a 7.5-month supply at the current sales pace.
This data highlights a robust residential real estate market amid fluctuating economic conditions.
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