New single-family sales jumped 20.5% month over month to a 800,000 annualized pace, with gains across all regions led by the Northeast (+72.2%), South (+24.7%), Midwest (+12.7%) and West (+5.6%). The median new-home price rose to $413,500, while the number of new homes for sale fell to 490,000 and months’ supply tightened to 7.4 from 9.0 in July. Existing-home sales edged down 0.2% to a 4.00 million annual rate as the median resale price increased 2.0% year over year to $422,600 and inventory held at 1.53 million, equal to 4.6 months’ supply. Homes listed for resale took a median 31 days to sell in August, with sales rising in the Midwest and West and slipping in the Northeast and South. NAHB surveys show many builders cutting prices and offering incentives, and recent mortgage-rate easing supported demand, though economists note new-home data are volatile and broader recovery hinges on improved affordability.
