New home sales jump 7.9 percent in August

New home sales jumped 7.9 percent in July and 12.6 percent above the level seen in August 2012, according to the US Census Department.

|
SoldAtTheTop
This chart shows the pace of new single family home sales since 2004. Sales jumped 7.9 percent in July 2012 but remained at historically low levels.

Today, the U.S. Census Department released its monthly New Residential Home Sales Report for August showing a notable increase with sales climbing 7.9% from July and rising 12.6% above the level seen in August 2012 remaining at an historically low level of 421K SAAR units. 

It's important to recognize that the inventory of new homes appears to be mounting as unsold units totaled 175K, still though near the lowest level seen in in at least 47 years while the median number of months for sale declined to 3.0. 

The monthly supply decreased to 5.0 months while the median selling price increased 0.55% and the average selling price increased 4.39% from the year ago level. 

The following chart show the extent of sales decline to date (click for full-larger version). 

You've read 3 of 3 free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.
QR Code to New home sales jump 7.9 percent in August
Read this article in
https://www.csmonitor.com/Business/Paper-Economy/2013/0926/New-home-sales-jump-7.9-percent-in-August
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe
CSM logo

Why is Christian Science in our name?

Our name is about honesty. The Monitor is owned by The Christian Science Church, and we’ve always been transparent about that.

The Church publishes the Monitor because it sees good journalism as vital to progress in the world. Since 1908, we’ve aimed “to injure no man, but to bless all mankind,” as our founder, Mary Baker Eddy, put it.

Here, you’ll find award-winning journalism not driven by commercial influences – a news organization that takes seriously its mission to uplift the world by seeking solutions and finding reasons for credible hope.

Explore values journalism About us