New Home Prices Hit Highest Level in 5 Years

August new home sales may have decreased by 0.3% from last month, but they were 27.7% higher than August 2011. What is more, the August median price of new homes “increased a record 11.2 percent to $256,000 – – the highest level since March 2007.” New home inventory remained unchanged from July to August with a 4.5 month supply.

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