According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July).
The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The summer months are often a busy time for builders as they capitalize on the warmer weather to be able to finish projects.
Below is a table showing the change in starts, completions, and sales from last August.
Other notable news from the report is that the percentage of new construction sales in the $200-$299k range has continued to break away from the $300-$399k range.
This shows that builders are starting to build lower-priced homes that will help alleviate some of the inventory challenges in the starter and trade-up home categories. The chart below shows the full breakdown.
What does this mean for buyers and sellers?
If you are thinking of buying or selling in today’s market, you no doubt have heard that there is a shortage of existing homes for sale which has been driving home prices up across the country. The additional new construction coming to the market could help alleviate this shortage, but we are still not back up to pre-crisis levels.
Chrysti Tovani is a Fair Oaks Real Estate Advisor, Transition Specialist, and the author of Downsizing with Intention. She helps homeowners sell long held homes, downsize with clarity, and navigate major life transitions with confidence and strategic guidance.
With decades of experience in real estate, mortgage, and title, Chrysti brings deep industry knowledge and thoughtful preparation to every transaction. Her approach blends strategic home marketing, skilled negotiation, and emotional intelligence, ensuring that each move is handled with both precision and care.
As the founder of I Love Fair Oaks, a hyperlocal media platform highlighting trusted businesses and community life in Fair Oaks, California, Chrysti has built an integrated authority ecosystem that connects real estate expertise with community leadership.
Her work centers on clarity, visibility, and long term legacy, helping clients move forward with confidence while strengthening the community she serves.
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