According to the U.S. Government, new single-family home sales in August 2023 were at a seasonally adjusted annual rate of 675,000, which is 8.7% lower than the revised rate for July and 5.8% higher than the previous year. The median sales price for new homes sold in August was $430,300, with an average sales price of $514,000. At the end of August, there were an estimated 436,000 new houses for sale, representing a 7.8-month supply at the current sales rate. You can find the full report at the U.S. Census Bureau by clicking here. For more information, you can read the article “New Home Sales Down 8.7% in August” on the Real Estate Investing Today website.
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