Sales of new single-family houses in August 2013 were at a seasonally adjusted annual rate of 421k, the U.S. Census Bureau reports. This is a 7.9% increase from July’s revised reading of SAAR 390k.
New home sales, seasonally adjusted, increased in 3 out of 4 U.S. regions in August:
- Northeast: SAAR of 37k from 34k last month.
- Midwest: SAAR of 61k from 51k last month.
- South: SAAR of 241k from 209k last month.
- West: SAAR of 82k from 96k last month.
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The rate of new home sales is now up 12.6% from a year ago.
The median sales price of new houses sold in August was $254,600, down from $256,300 in July. Median sales prices have not been this low since January.
The average sales price was $318,900, up from $318,500 in July.
The seasonally adjusted estimate of new houses for sale at the end of August was 175k. This represents a supply of 5.0 months at the current sales rate.