New Residential Sales Slide in July

The median sales price of new houses sold in July 2010 was $204,000; the average sales price was $235,300.

Sales of new single-family houses in July 2010 were at a seasonally adjusted annual rate of 276,000, according to estimates. This is 12.4 percent (plus or minus 10.8%) below the revised June rate of 315,000 and is 32.4 percent (plus or minus 8.7%) below the July 2009 estimate of 408,000.

The seasonally adjusted estimate of new houses for sale at the end of July was 210,000. This represents a supply of 9.1 months at the current sales rate. This is good news for consumers who have more buying options.

- Courtesy of Economics & Statistics Administration