· August New Home Sales. The median sales price of a new home fell to $284,000 in August, well off the april 2016 peak of $321,901. The drop in prices does not represent an over-supplied market, rather it reflects builders shifting away from the well-supplied luxury home market.
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US New Home Sales Unexpectedly Fall. The median sales price of new houses sold was USD 328,700 above USD 322,900 in the same month of the previous year. The average sales price jumped to USD 394,300 in July from USD 372,400 a year earlier.
There were 4,294 homes for sale in metro baton rouge during August, a 16.8 percent increase from the year before. Pending sales, an indicator of future activity, dropped 2.6 percent in August to 946.
Purchases of new homes slipped 5.3% from May to the slowest pace in eight months, the latest sign that the housing market is cooling.
· The average price of a new home sold in August dropped by a record amount of 11.8 percent to $263,900, compared to the July average of $299,100.
Sales of new homes in the United States and in New Mexico dipped slightly in August from July. New-home sales edged down to a seasonally adjusted annual rate of 373,000 in August, a dip of 0.3 percent.
New-home sales down 34.5% in August by Alan J. Heavens, Inquirer Real Estate Writer , Posted: September 26, 2008 August new-home sales nationwide fell 34.5 percent from 2007, even as builders battled to reduce unsold inventory to try to get the housing slump to hit bottom.
Mortgage rates freeze as market enters uncertain era · ’Nearly half of mortgage holders have never seen a rate rise’: Owners on variable rates set to grapple with monthly payment hike interest rates are expected to.
With the substantial decrease, new home sales fell to their lowest level since hitting a rate of 546,000 in December of 2016. The drop in new home sales in September was partly due to a 40.6 percent plunge in sales in the Northeast, which plummeted to a rate of to 19,000.
Home prices remained high and with a decline in homes on the market, many would-be homeowners are unable to purchase. NAR said home sales fell 3.4 percent in September after stagnating in August..
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