The U.S. Census Bureau this morning released data on new single-family home sales for July. Economists had been expecting a seasonally adjusted annual rate of 365,000, and were pleasantly surprised by a reported increase to 372,000, up 3.6% from a revised total of 359,000 in June. Compared with July 2011, the number is up 25.3% from last year’s estimate of 297,000.
The Census Bureau also reported that the median sales price for new homes sold in July was $224,200 and the average sales price was $263,200. In June, the median sales price for a new house was $232,600 and the average sales price was $273,900.
At the end of July the number of new homes for sale totaled 142,000, a supply of 4.6 months, matching the number posted in May for the lowest inventory in the past 12 months.
The Mortgage Bankers Association reported yesterday that mortgage applications for purchases rose by nearly 1% last week. The average contract interest rate for a 30-year fixed rate conforming mortgage also rose to 3.86% last week.
Paul Ausick
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
