After a decline in June from May, New Home Sales in July rebounded, up 5.4% from June to an annual rate of 507,000 units, just below the 511,000 expected. Sales were up nearly 29% from July 2014, while the median price of a new home rose 2% from a year ago to $285,900.
On the supply side, the inventory of New Homes for sale was up almost 2% to 218,000, the highest level since March 2010, though still less than half below of what it was at the height of the housing boom.
A silver lining while the crazy world of the stock market is going on!
Be positive out there guys!!
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