New Home Sales Hit Four-Month High in August

Source: US Census Bureau

New home sales climbed for the third straight month to hit a four-month high in August, as average prices retreated. XHB is down 0.03%.

• Sales of new single-family houses stood at 740,000 in August, the highest in four months since April’s 796,000.
• The latest reading is 1.5% higher than the 729,000 in July and 24.3% lower than the 977,000 units sold in August 2020.
• The south region had the highest sales with 445,000 units, followed by the west with 215,000 units, the midwest with 51,000 units, and the northeast with 29,000 units.
• New houses for sale totaled 378,000 units, up 3.3% from 366,000 units in July and 32.2% higher than the 286,000 units in August 2020.
• The average sales price for the month stood at $443,200, down from $448,700 in July and higher than the $386,300 a year ago. 
• Median sales price stood at $390,900, unchanged from July but up from $325,500 the same month last year.