US New home sales for July 0.607M vs 0.620M estimate
- Prior month 0.628M revised higher to 0.678M
- New home sales for July 0.607M vs 0.620M
- New home sales percentage change -10.5% vs 1.6% last month
Details on inventories and prices:
- New homes for sale totaled a seasonally adjusted 488,000 in July, up 1.9% from June but down 1.6% from July 2025.
- At the current sales pace, inventory represents a 9.6-month supply, up from 8.5 months in June and 9.2 months a year earlier. That is high.
- The increase in months’ supply indicates that inventory grew relative to the pace of new-home sales.
Sales prices:
- The median new-home sales price was $393,800 in July, down 2.3% from June and 0.9% from a year ago.
- The average sales price was $508,800, up 4.1% from June and 5.4% from July 2025.
- The divergence suggests stronger sales activity at the higher-priced end of the market.
Regionally: What is with the Midwest?
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