New Residential Home Sales Strong in August

Residential home sales in August were strong according to the US Department of Housing and Urban Development’s latest press release. Nationally, sales were 5.7% greater in August than in July on a seasonally adjusted annual rate and were 21.6% greater than the same time last year. In the West, sales were 5.4% greater on a month-over-month basis and 11.4% greater than in August 2014.

The average and median sales prices of new houses also continued their upward trend. In August, the average sales price reached $353,400 and the median sales price reached $292,700. New single-family homes for sale were estimated to be at a 4.7-month supply or 216,000 units. Read the full press release at http://1.usa.gov/10tP2Rv.

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