August New Home Sales and Average Home Price
New home sales fell 2.3% in August down to 295,000. Housing sales have been declining since the 2011 high in April and remain near historically low levels. Though, compared to 1 year ago, sales are up 6.1%. Buyers can still take advantage of lower housing prices as the average home price dropped as well to $246,000 representing an 8.7% drop from the previous month.