Existing-home sales may have fallen in August but new home sales were up, according to the Census Bureau’s latest monthly report…(Census Bureau)
- M-O-M: Sales of new single‐family houses were up 1.5% to a seasonally adjusted annual rate of 740,000 in August 2021.
- Y-O-Y: New home sales were up 24.3% compared to the time one year ago.
Defying other trends, the August report showed that home prices were mixed and inventory saw a slight increase…
- The median sales price of new houses sold in August 2021 saw a small increase to $390,900(+0.1%). The average sales price was down slightly to $443,200 (-0.6%).
- Inventory levels increased slightly at the end of August to 378,000 (+2.9%). However, the increased sales rate means despite the increase in inventory we only have 6.1 months of supply compared with 6.2 months in July.