New Home Sales on the Rise!

New home sales are at their highest level since August 2008 - a strong starting point for the Fall season.  August's new, single-family homes are up 5.7% over July of this year and up 18% over August of last year.

The positive increase in sales is attributed to low interest rates and better job creation.

New home sales make up 10% of the housing market with the other 90% coming from existing home sales.

According to a survey by the National Association of Home Builders, builder sentiment is at its highest level nearly a decade - the highest since November 2005.  Builders reported better sales conditions and increased buyer traffic.

The median home price comes in at $292,700, an 0.3% increase from this time last year.

Experts estimate there is a 4.7 month supply of new homes still on the market. With concerns over a possible rate increase coming later this year - now is the time to buy!!