New Home Sales During July, 2024

The July, 2024 New Home Sales report was released by the Commerce Department this morning:

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Previous Month (revised): 668,000

• Actual New Home Sales: 739,000

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• Change from 1 Month Previous: +71,000 units (+10.63%)
  
  
• Change from 1 Year Previous: +39,000 units (+5.57%)

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Median Price for a New Home
During July, 2024: $429,800
 

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Average Price for a New Home
During July, 2024: $514,800

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Inventory: 462,000 (7.5 months supply at current sales rate; seasonally‐adjusted estimate.)

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CHART: New Home Sales
JULY, 2024 Update

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• Click Here for Historical Prices and a Price Chart.
  
  
• Click Here for Existing Home Sales Prices and a Chart.

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Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


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• Click here to view the full Commerce Department report (PDF)
  
  

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