WASHINGTON -- Sales of new single-family houses in July 2015 were at a seasonally adjusted annual rate of 507,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.4 percent above the revised June rate of 481,000 and is 25.8 percent above the July 2014 estimate of 403,000.
The median sales price of new houses sold in July 2015 was $285,900; the average sales price was $361,600. The seasonally adjusted estimate of new houses for sale at the end of July was 218,000. This represents a supply of 5.2 months at the current sales rate.
"Our builders are reporting higher traffic and more serious buyers, and are adding inventory in anticipation of future business," said Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo.
"Today's report is in line with other government data and improving builder sentiment and shows a gradual but consistent housing recovery," said NAHB Chief Economist David Crowe. "As job growth and consumer confidence continue to strengthen, the housing market should make additional gains this year."
Regionally, the Northeast, South and West posted respective gains of 23.1 percent, 5.8 percent, and 6.7 percent. The Midwest registered a 6.9 percent decline.