New Home Sales Cool 1.2% In August
The Census Bureau reported that new home sales fell 1.2% year-over-year in August. As we saw last week with the existing home sales decline, Hurricane Harvey put a damper on real estate transactions in the southern states. It is quite likely that September home sales will also be affected by the fallout from Harvey. The median price of a new home contracted in August was $300,200 during the month of August. The average price of a new home contracted last month was $368,100. Both figures represent price increases from a year ago. Median new home [...]