New homes sales down nationwide


Across the U.S. it was reported that sales of new single-family homes were down by 3.4 percent.

The United States Census Bureau announced that sales were down month-over-month from July to August of 2017. Sales were down 1.6 percent compared to August of 2016, according to the department.

The number of new houses sold for August was a seasonally-adjusted 560,000 according to estimates released by both the Census Bureau and the Department of Housing and Urban Development. In August of 2016, the houses sold were 567,000.

The median sales price across the nation of new homes was $300,200, and the average sales price was $368,100, reflecting data for the Central Valley region.

Inventory for the U.S. was at 284,000, representing a 6.1-month supply if sales continue at the same rate.

Local inventory levels have sat around the 100- to 200-mark in various cities.


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