Jerry Cecil PLLC
Jerry Cecil

New Homes Sales Hit 7 Year High

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Sales of new single-family homes increased by more than 2 percent in May to a seasonally adjusted annual rate of 546,000.
That’s the best sales number since February 2008 and is nearly 20 percent above the pace at which new homes were being sold a year ago.

The median sales price was $282,800, according to the Commerce Department report.
The report is another sign of a recovering housing. The National Association of Realtors reported Monday that sales of existing homes had hit their highest level since 2009.

The increase in sales of new homes is being accompanied by an increase in sales of existing homes as well.

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