New Home Sales Up 3.5% in August


The U.S. government is reporting that sales of new single-family houses in August 2018 were at a seasonally adjusted annual rate of 629k.  This figure is 3.5% higher than July’s revised rate and 12.7% higher than one year ago.  The median sales price of new houses sold in August 2018 was $320,200 and the average sale price was $388,400.  There were an estimated 318k homes for sale at the end of August representing a 6.1 month supply.