New Home Sales Up 28 Percent From 2011

In August, sales of new single-family homes were 0.3 percent below July’s upwardly revised annual rate of 374,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. New home sales were at a seasonally adjusted annual rate of 373,000, which is 27.7 percent above last year’s level. But though sales were relatively flat month-over-month, median price rose significantly, climbing 11.2 percent and setting a record for the largest one-month gain. The median sales price of new houses sold during the month was $256,900; the average sales price was $295,300. Also, there was a 4.5-month supply of new homes available for sale at the end of August. More here and here.

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