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New-Home Sales on the Rise

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The new-construction market continues to gain ground this year, and new home sales have to risen to the highest rate since February 2008. In fact, according to a report from the Commerce Department, and as reported by Realtor Mag, sales of newly built single-family homes increased 2.2 percent, reaching a seasonally adjusted annual rate of 546,000 units.

Sales are nearly 20 percent higher than the pace in May 2014. New-home inventories remain tight at 206,000, a 4.5-month supply at the current sales pace. That’s pushed the average sales price of a new home sold in May to $337,000, states Realtor Mag.

A release of new home sales further demonstrates that sales pace has been generally picking up since last July, with dips in November 2014 and March 2015.

New home sales numbers (annualized, seasonally adjusted), as reported by Forbes:

May 2015: 546,000

April 2015: 534,000

March 2015: 494,000

February 2015: 545,000

January 2015: 521,000

December 2014: 495,000

November 2014: 449,000

October 2014: 472,000

September 2014: 459,000

August 2014: 454,000

July 2014: 403,000

June 2014: 408,000

May 2014: 457,000