Posted by: Marvin Remmich | September 27, 2012

New home sales rise in August

Sales of new single-family houses rose 27.7 percent in August 2012 compared with August 2011 to a seasonally adjusted annual rate of 373,000, according to estimates released jointly by the U.S. Census Bureau HUD.  Although new home sales rose on a year-over-year basis, in a month-over-month comparison new home sales declined 0.3 percent.

The median sales price of new houses sold in August 2012 was $256,900; the average sales price was $295,300. The seasonally adjusted estimate of new houses for sale at the end of August was 141,000, representing a supply of 4.5 months at the current sales rate.

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