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1h ago

New-Home Sales Jump as Existing Sales Hold Flat in August

Builder incentives plus lower borrowing costs helped pull some buyers back to the market.

An aerial view of new residential housing under construction at a planned community on September 17, 2025 in Fontana, California. (Photo by Mario Tama/Getty Images)
A "For Sale" sign stands in front of a house, on the North Shore of Long Island city of Glen Cove, New York, U.S., August 12, 2025. REUTERS/Shannon Stapleton/File Photo
FILE - A development of new homes in Eagleville, Pa., is shown on April 28, 2023. (AP Photo/Matt Rourke, File)
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Overview

  • HUD and Census reported new single-family sales rose 20.5% to an 800,000 annual rate in August, the fastest pace since early 2022.
  • New-home inventory slipped to 490,000 with months’ supply down to 7.4 from 9.0 in July, indicating a tighter pipeline of available new construction.
  • NAR said existing-home sales edged down 0.2% to a 4.00 million annual rate as the median price reached $422,600, up 2% year over year for a 26th straight increase.
  • Freddie Mac data show the average 30-year fixed mortgage rate recently eased to about 6.26%, the lowest since last fall.
  • NAHB surveys found roughly 37% of builders cut prices in August, with incentives cited as a sales driver, while economists cautioned that new-home data are volatile and often revised.