According to new data released this week by the U.S. Census Bureau and the Department of Housing and Urban Development, July sales of new single family homes were at seasonally adjusted annual rate of 654k (highest level since October 2007). This number is 12.4% above June’s rate and 31.3% higher than one year ago. The median sales price of new houses sold in July 2016 was $294,600; the average sales price was $355,800. Currently there is 4.3 months supply of new homes at the current sales rate.
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