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In August, new-home sales declined 2.3%

Sales of new single-family houses in August 2011 were at a seasonally adjusted annual rate of 295,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

The figure is 2.3% below the revised July rate of 302,000, but is 6.1% above the August 2010 estimate of 278,000.

The median sales price of new houses sold in August 2011 was $209,100; the average sales price was $246,000. 

The seasonally adjusted estimate of new houses for sale at the end of August was 162,000. This represents a supply of 6.6 months at the current sales rate.


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