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New Home Sales Growth Hits 14-Year High

Mortgage News > New Home Sales Growth Hits 14-Year High
Date: 09/29/2020    New Home Sales Growth Hits 14-Year High

Sales of new U.S. homes grew in August at their fastest rate since 2006, according to Census Bureau figures. Sales rose 4.8% to an annual rate of 1 million houses. Inventory of new homes fell to a 57-year low, however, with just 282,000 properties on the market, a 3.3-month supply at the current sales pace. The median sales price for new homes fell as well to $312,800 in August from $328,400 a year ago.

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