US new home sales jump to eight-month high in August
XLY•New home sales rose 6.4% to an annualized rate of 684,000 in August, the highest since December 2025. The median price fell 5.8% year over year to $393,700, while mortgage rates and unsold inventory remained pressures on the market.
1. Sales rise in August
New home sales increased 6.4% to a seasonally adjusted annualized rate of 684,000 units in August, the highest level since December 2025. July sales were revised to a rate of 643,000, from 607,000 previously reported. Economists had forecast a rate of 615,000.
2. Regional differences
Sales rose 84.9% in the Midwest and 6.9% in the South, but fell 36.1% in the Northeast and 15.2% in the West. Sales were down 2.0% from a year earlier.
3. Prices and inventory
The median new-home price fell 5.8% year over year to $393,700, and most homes sold were priced below $500,000. Inventory was unchanged at 483,000 homes, with more than half under construction; at August's sales pace, it would take 8.5 months to clear, down from 9.0 months in July. The average 30-year fixed mortgage rate was 6.95% last week, its highest since January 2025.
