• August new home sales rose 1.5% from July but were down 24.3% from August 2020, to 740,000 (SAAR), according to the Census Bureau.
• The median sales price of new houses sold in August 2021 was $390,900, flat from July and up 20.1% from August 2020.
• The seasonally‐adjusted estimate of new houses for sale at the end of August was  378,000, a supply of 6.1 months at the current sales rate.

New home sales rose for the second consecutive month in August, the latest sign that homebuilders are recovering from problems that plagued them earlier in the year. The increase also reflects  homebuilder sentiment that is on the rise as housing demand remains robust and the cost of lumber continues to ease. But the solid improvement in August sales does not mean that builders are in the clear — building material supply chain issues and labor shortages are still very real challenges that buyers and builders alike are eager to see resolved. Home prices nationwide are growing at a record annual pace, total for-sale inventory (new and existing homes) is down more than 20% from this time last year and the typical listing is on the market for less than 10 days. It’s critical that builders continue to find ways to get around these existing challenges and bring new homes to the market in higher numbers, giving even marginal relief to would-be buyers exasperated by intense competition and limited housing supply.