The 2020 Mid-Year Economic Update_long

Home Sales Spike in August

Latest data shows a 43.2% jump in home sales from the same month a year ago, giving distributors that sell building materials and other construction materials a second straight month good news on this front.
August home sales

Another summer month, another upbeat home sale report. Sales of new single-family houses in July were at a seasonally adjusted annual rate of 1,011,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 43.2% above the August 2019 estimate of 706,000 and 4.8% above the revised July rate of 965,000.

The median sales price of new houses sold in August was $312,800. The average sales price was $369,000. The seasonally adjusted estimate of new houses for sale at the end of August was 282,000. This represents a supply of 3.3 months at the current sales rate.

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