Adrianne Todman, Deputy Secretary | https://www.hud.gov/leadership#sec
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly released new residential sales statistics for July 2024.
New Home Sales
Sales of new single-family houses in July 2024 reached a seasonally adjusted annual rate of 739,000, according to estimates from both agencies. This figure is 10.6 percent (±16.5 percent) above the revised June rate of 668,000 and 5.6 percent (±21.3 percent) higher than the July 2023 estimate of 700,000.
Sales Price
The median sales price for new houses sold in July 2024 was $429,800, while the average sales price stood at $514,800.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of July was 462,000 units, representing a supply of 7.5 months at the current sales rate.
The next report is scheduled for release on September 25, 2024. The full text and tables are available at www.census.gov/construction/nrs/.
Explanatory Notes
These statistics are derived from sample surveys and are subject to sampling variability as well as nonsampling errors such as bias and variance from response, nonreporting, and undercoverage. The estimated average relative standard errors of preliminary data are shown in accompanying tables.
Whenever a statement like “2.5 percent (±3.2%) above” appears in the text, it indicates a range (-0.7 to +5.7 percent) within which the actual percentage change likely occurred based on a 90-percent confidence interval accounting only for sampling variability.
Changes in seasonally adjusted statistics often show irregular movement; it takes three months to establish a trend for new houses sold. Preliminary figures are subject to revision due to survey methodology and definitions used primarily based on samples selected from building permits.
API
The Census Bureau’s application programming interface allows developers to create custom apps that make key demographic, socio-economic, and housing statistics more accessible.
FRED Mobile App
Receive updates on key economic indicators by downloading the FRED App for Apple or Android devices.
FRED incorporates the Census Bureau’s economic indicators database managed by the Federal Reserve Bank of St. Louis.
