On Friday, the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced that sales of new single-family homes in July were estimated at a seasonally adjusted annual rate (SAAR) of 739,000. This is 10.6% above the revised June rate of 668,000 (originally 617,000) and 5.6% above the July 2023 estimate of 700,000.

The median sales price for new homes sold in July was $429,800. The average sales price was $514,800.

The seasonally adjusted estimate of new homes for sale was 462,000 at the end of the month, representing 7.5 months of supply based on the current sales rate.

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