The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual rate (SAAR) of 800 thousand.
The previous three months were revised up, combined.
Sales of new single-family houses in August 2025 were at a seasonally-adjusted annual rate of 800,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 20.5 percent above the July 2025 rate of 664,000, and is 15.4 percent above the August 2024 rate of 693,000.Click on graph for larger image.
emphasis added
The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate.
New home sales were above pre-pandemic levels.
The second graph shows New Home Months of Supply.
The months of supply was decreased in August to 7.4 months from 9.0 months in July.
The all-time record high was 12.2 months of supply in January 2009. The all-time record low was 3.3 months in August 2020.
This is above the top of the normal range (about 4 to 6 months of supply is normal).
"The seasonally-adjusted estimate of new houses for sale at the end of August 2025 was 490,000. This is 1.4 percent below the July 2025 estimate of 497,000, and is 4.0 percent above the August 2024 estimate of 471,000.Sales were well above expectations of 653 thousand SAAR and sales for the three previous months were revised up, combined. I'll have more later today.
This represents a supply of 7.4 months at the current sales rate. The months' supply is 17.8 percent below the July 2025 estimate of 9.0 months, and is 9.8 percent below the August 2024 estimate of 8.2 months."
