According to new data released today by the U.S. Department of Commerce, sales of new single-family homes rose this month in signal that the housing market is rebounding strongly.
According to the report:
Sales of new single-family houses in July 2015 were at a seasonally adjusted annual rate of 507,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.4 percent (±14.8%)* above the revised June rate of 481,000 and is 25.8 percent (±22.6%) above the July 2014 estimate of 403,000. The median sales price of new houses sold in July 2015 was $285,900; the average sales price was $361,600. The seasonally adjusted estimate of new houses for sale at the end of July was 218,000. This represents a supply of 5.2 months at the current sales rate
Click here to read the full report.
