New Home Sales Rebounded in August

Sales of new single-family houses rebounded in August after the two-month decline, signaling the housing market is still alive and well. New Home Sales rose 3.5 percent from July to an annual rate of 629,000, in line with expectations. However, July was revised lower to 608,000 from the 627,000 originally reported. Sales were up 12.7 percent from August 2017. Sales soared in the Northeast, rose in the Midwest and West, and fell in the South.

The median sales price of new houses sold in August 2018 was $320,200. There was a 6.1-month supply of homes for sale on the market, which is considered normal.