US new home sales hit 800,000 in August, beating estimates

By Mucahithan Avcioglu

ISTANBUL (AA) - New home sales in the US reached 800,000 units in August, above market forecasts, according to US Census Bureau data released on Wednesday.

Markets had expected the figure to come in at 650,000 for the month.

The figure was up 20.5% month-on-month in August compared to July's upwardly revised rate of 664,000 units.

Meanwhile, on a yearly basis, the number of houses sold in August also rose 15.4% from 693,000 in August 2024.

The agency said the median sales price of new houses in August was $413,500, up 4.7% compared to July.

The average sales price of new houses in August was $534,100, up 11.7% month-on-month.

Meanwhile, building permits, a key indicator of market demand, dropped 2.3% from the previous month, totaling 1.33 million in August.

Still, the figure slightly exceeded market expectations of 1.312 million.