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August 25, 2015
New-home sales up 5.4 percent in July
New-home sales increased 5.4 percent in July, influenced in good part by the increase of new-homes sales where construction had not yet started.
NAFCU Research Assistant Yun Cohen analyzed data from the Census Bureau and found that new-home sales "bounced back" in July after a 7.7 percent dip in June.
"The National Association of Home Builders' confidence index rose in August to its highest level since November 2005, which suggested that U.S. home builders were also more optimistic about housing market conditions," Cohen wrote. "The outlook remains positive as demand in housing continues to be supported by an improving labor market, low interest rates, and easier access to credit."
The median new-home price, non-seasonally adjusted, went up from $277,500 in June to $285,900 in July – 2 percent higher than the median price a year ago. Sales went up in three out of four regions in July – increasing the highest in the Northeast at 23.1 percent, and decreasing by 6.9 percent in the Midwest.
NAFCU Research Assistant Yun Cohen analyzed data from the Census Bureau and found that new-home sales "bounced back" in July after a 7.7 percent dip in June.
"The National Association of Home Builders' confidence index rose in August to its highest level since November 2005, which suggested that U.S. home builders were also more optimistic about housing market conditions," Cohen wrote. "The outlook remains positive as demand in housing continues to be supported by an improving labor market, low interest rates, and easier access to credit."
The median new-home price, non-seasonally adjusted, went up from $277,500 in June to $285,900 in July – 2 percent higher than the median price a year ago. Sales went up in three out of four regions in July – increasing the highest in the Northeast at 23.1 percent, and decreasing by 6.9 percent in the Midwest.
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