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Reliant Mortgage Company - Auburn, Maine.

New Home Sales Up 6.1 Percent Over August 2010

Monday, September 26, 2011 - Article by: Reliant Mortgage Company - Auburn, Maine. - Northstar Mortgage Group - Message

New Home Sales Up 6.1 Percent Over August 2010

Estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development show sales of new single-family houses were at a seasonally adjusted annual rate of 295,000, 2.3 percent below July's rate but 6.1 percent above August of last year. The median sales price of new homes sold in August was $209,100; the average sales price was $246,000. The estimate of new houses for sale at the end of August was 162,000, a 6.6-month supply at the current sales rate. A six-month supply of single-family homes is considered healthy for the housing market. More here and here.

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