Sales of new single-family homes in the United States jumped 4.8 percent from the previous month to a seasonally adjusted annual rate of 1,011 thousand in August of 2020, surprising markets that were expecting a fall to 895 thousand. It is the highest reading since September of 2006 as the housing market continues to recover from the coronavirus hit, prompted by record low interest rates and increasing demand as people move away from the big cities. New home sales increased in the South (13.4 percent to 636 thousand) and the Northeast (5 percent to 42 thousand) but fell in the Midwest (-21.4 percent to 99 thousand after a 59.5 percent rise in July) and the West (-1.7 percent to 234 thousand). The average sales price went down to $369,000 from $392,700 a year earlier. The number of new houses for sale available on the market fell 3.1 percent to 282 thousand.
New Home Sales in the United States averaged 652.18 Thousand units from 1963 until 2020, reaching an all time high of 1389 Thousand units in July of 2005 and a record low of 270 Thousand units in February of 2011. This page provides the latest reported value for - United States New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States New Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: U.S. Census Bureau
New Home Sales in the United States is expected to be 920.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate New Home Sales in the United States to stand at 640.00 in 12 months time. In the long-term, the United States New Home Sales is projected to trend around 560.00 Thousand units in 2021 and 590.00 Thousand units in 2022, according to our econometric models.