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New Home Sales Up 12.6 Percent Since Last Year

  • September 25, 2013

by Shilpi Paul

New Home Sales Up 12.6 Percent Since Last Year: Figure 1

Sales of new single-family homes in August 2013 are up 12.6 percent in comparison to August 2012, the Commerce Department reported on Wednesday.

Sales were at a seasonally adjusted annual rate of 421,000, up from a July 2013 rate of 390,000. The August 2012 estimate was 374,000.

New home inventory is also up: the seasonally adjusted estimate at the end of August was 175,000, the highest since March 2011, according to the Wall Street Journal’s Nick Timiraos.

The news comes a day after Case-Shiller’s July report, which found that home prices rose 12.4 percent between July 2012 and July 2013.

This article originally published at http://dc.urbanturf.com/articles/blog/new_home_sales_up_12.6_percent_since_last_year/7606

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