New and Existing Home Sales
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"Recent housing data show an interesting twist. For the first time, the median price of new homes is below that of existing homes. In short, new homes are getting cheaper and more are being sold, while existing homes are getting more expensive and less are being sold vs. the recent past.
The Commerce Department reported sales of newly constructed homes rose 6.5% in July and 27.7% from a year earlier. But the median sales price dropped to $203,800, the lowest level since December 2003, from $219,500 in June."
Full article.
"Recent housing data show an interesting twist. For the first time, the median price of new homes is below that of existing homes. In short, new homes are getting cheaper and more are being sold, while existing homes are getting more expensive and less are being sold vs. the recent past.
The Commerce Department reported sales of newly constructed homes rose 6.5% in July and 27.7% from a year earlier. But the median sales price dropped to $203,800, the lowest level since December 2003, from $219,500 in June."
Full article.
posted by Little_Silvered at 6:56 PM
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