New single-family home sales in the US rose 6.4% month-over-month in August, reaching a seasonally adjusted annual rate of 684,000 units, the fastest pace this year, driven by price reductions and sales incentives. Meanwhile, the median new home sales price decreased 5.8% year-over-year to $393,700, the largest annual decline since July 2025. Homebuilders are stimulating demand through concessions, but mortgage rates have climbed above 7%, and industry challenges continue to mount.