New home sales were at a seasonally adjusted annual rate of about 629,000 in August, an increase of 3.5% compared with a revised rate of 608,000 in July and up 12.7% compared with about 558,000 in August 2017, according to estimates from the U.S. Census Bureau and the U.,S. Department of Housing and Urban Development.
The median sales price of new home sold in August was $320,200. The average sales price was $388,400.
As of the end off the month there were about 318,000 new homes available for sale, nationwide – about a 6.1-month supply at the current sales rate.
The increase in August follows a month-over-month decrease of 1.7% in July and a decrease of 5.3% in June.
