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.