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New Home Sales At Highest Level in Over Two Years

  • October 24, 2012

by Shilpi Paul

New Home Sales At Highest Level in Over Two Years: Figure 1

In yet more news that the housing market is healing, the Commerce Department reported today that September sales of new single-family homes reached its highest level in over two and a half years.

New home sales increased by 5.7 percent, reported Reuters, reaching a seasonally adjusted rate of 389,000 units annually. In August, the reported rate was 368,000. The last time the sales pace was this high was April 2010.

While the inventory of new homes still remains at near record lows, that may be changing; Trulia Trends reported earlier this week that construction activity in September reached its highest level since 2008. The annualized rate of 872,000 was up 35 percent year-over-year.

The news out today is yet the latest in a string of good news for the national housing market. In recent weeks, there has been optimistic news related to housing starts, foreclosures, and home prices.

See other articles related to: new home sales, commerce department

This article originally published at http://dc.urbanturf.com/articles/blog/new_home_sales_up_to_highest_level_in_over_two_years/6202

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