Charlotte New Homes Sales Dip | Resale Prices Hit 5-Year High

New U.S. single-family home sales eased in August but held near two-year highs and prices vaulted to their highest level in more than five years, adding to signs of a broadening housing market recovery.

The Commerce Department said on Wednesday sales slipped 0.3 percent to a seasonally adjusted 373,000-unit annual rate. July?s sales pace was revised up to a 374,000-unit pace, the highest level since April 2010, from the previously reported 372,000 units.

Economists polled by Reuters had forecast sales at a 380,000-unit rate last month. Compared to August last year, new home sales were up 27.7 percent.

Despite the month-on-month dip in sales, the report was consistent with other data that have suggested a turn-around in the housing market after collapsing in 2006 and igniting the 2007-09 recession.

Home resales surged last month and homebuilder sentiment jumped to a six-year high in September. However, the housing market recovery lacks sufficient strength to take the baton from manufacturing as the main driver of the economic recovery.

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Debe

I am a full-time REALTOR? personally specializing in historic homes and luxury home sales in the Charlotte NC real estate market. My team specializes in a variety of areas including first time home buyers, condos and townhomes as well as single family home sales and marketing.

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Source: http://www.icharlotterealestate.com/new-homes-sales-dip-but-prices-hit-5-year-high/

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