September 2024 saw a rise in new single-family home sales, reflecting steady growth from August and the previous year.
Median and average sales prices remained strong, with available inventory providing a balanced months’ supply at the current sales pace, according to the US Census Bureau and HUD.
The US Census Bureau and the Department of Housing and Urban Development reported that sales of new single-family homes climbed to a seasonally adjusted annual rate of 738,000 in September 2024. This figure represents a 4.1 percent increase (±14.7 percent)* from the revised August rate of 709,000 and a 6.3 percent rise (±18.6 percent)* compared to the September 2023 estimate of 694,000.
The median sales price for new homes sold in September 2024 was $426,300, while the average sales price was $501,000.
The seasonally adjusted estimate of new homes available for sale was 470,000, equating to a 7.6-month supply at the current sales pace.
Source: US Census Bureau
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