New Home Sales Back in The Range After Uncommonly Big Bounce

The new home market returned to the longer-term range last month, with sales seeing their 4th biggest rebound in 4 years.  Sales of new single-family homes rose to a seasonally adjusted annual rate of 684,000 in August, up 6.4% from July's revised 643,000 but 2.0% below the same month last year. The increase puts sales back above the 600,000 mark after July's pullback, although the broader trend remains relatively flat. The number of new houses for sale was virtually unchanged at 483,000 , down 2.0% from a year earlier. With sales picking up while inventory held steady, the implied supply fell to 8.5 months , down from 9.0 months in July and essentially unchanged from August 2025. Pricing was mixed, the median sales price edged up to $393,700 , a 0.4% increase from July but 5.8% below August 2025. The average sales price fell to $478,700 , down 9.1% from July and 8.8% from a year earlier. As a reminder, price movements in this data set are not necessarily apples to apples as they don't adjust for changes in square footage, neighborhood, etc. Sales (MoM): +6.4% Sales (YoY): -2.0% Inventory (MoM): 0.0% Inventory (YoY): -2.0% Months' Supply: 8.5 (down from 9.0 prior month; 8.5 YoY) Median Price: $393,700 Average Price: $478,700