August 23, 2012

New Home Sales Rise Again In July

Sales of new, single-family homes continued to rise in July, with national sales growing 25 percent over the same month last year, according to the U.S. Census Bureau and Department of Housing and Urban Development.

Sales for the month were at a seasonally adjusted annual rate of 372,000, compared to 297,000 last year and a revised June rate of 359,000.

Year-over-year growth for the month in the Northeast was 30.4 percent, second to the West's 68.3 percent. According to the report , there were 30,000 sales in July in the Northeast, compared to 23,000 last year. At 76.5 percent, the Northeast saw the biggest jump from June's sales, which were 17,000.

Nationally, the median sale price of new homes sold in July was $224,200, while the average was $263,200.

Image credit: FreeDigitalPhotos.net.

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