In a 'Post Tax Credit Era' New Home Sales Remain Flat in August, Prices Up Slightly

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According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in August 2010 were at a seasonally adjusted annual rate of 288,000.

This is unchanged (±16.7%) from the revised July rate of 288,000 and is 28.9 percent (±11.0%) below the August 2009 estimate of 405,000.

The median sales price of new houses sold in August 2010 was $204,700; the average sales price was $248,800. The seasonally adjusted estimate of new houses for sale at the end of August was 206,000. This represents a supply of 8.6 months at the current sales rate.

August new home sales prices were slightly higher than July's median sales price of $204,000, and the average July sales price of $235,300.

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