In August, the median sales price of new houses dropped to $420,600, a 4.6% decline from last year. This reflects builders' efforts to attract buyers amid affordability issues.
In contrast, the median sale price of previously owned homes rose to $416,700, highlighting a discrepancy in the market where existing home prices are rising despite new home price drops.
Sales of new single-family houses fell 4.7% in August, reflecting builders' struggles to close deals even as mortgage rates have decreased slightly compared to last year.
Despite the ongoing challenges in the housing market, the annual sales of new homes showed a 9.8% increase from the previous year, indicating some resilience within the market.
Collection
[
|
...
]