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New Home Sales Went Up in August

The U.S. Census Bureau and the Department of Housing and Urban Development recently released stats showing new homes sales increased in August by 18 percent from the previous month and 33 percent from August 2013. These newly constructed single-family homes sold at a seasonally adjusted rate of 504,000, with the supply of new homes available for sale rising to 203,000, an increase of 2,000 from July, according to a report from the National Association of Home Builders.

This gain in sales is positive for the continuing recovery of the housing market. After a slow-to-start first half of the year, this rise in sales reflects a resurgence of the momentum that grew steadily during 2012 and 2013. The recent increase in inventory represents the growing confidence in the recovery among builders as well.

Furthermore, the rise in new single-family sales puts the housing market on solid ground for additional gains through the end of 2014, as the recovery continues to move things back to normal.

Read the full article from NAHB here.

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