New-home Sales Post Fourth Straight Monthly Gain
August 31, 2009 by Elad Bushari · Leave a Comment
Sales of new single-family homes rose 9.6 percent from June to July, reaching a seasonally adjusted annual rate of 433,000, the U.S. Commerce Department announced this morning. This marks the fourth consecutive month that sales have increased. But new-home sales were still 13.4 percent below the July 2008 estimate of 500,000, and prices continue to fall. The median sale price of a new home sold in July was $210,100, an 11.5 percent decline compared to a year ago. Commerce estimates that there were 271,000 new homes for sale at the end of July, which represents a 7.5 month supply at the current sales rate.
the Broker of Bushari Group Real Estate, a boutique luxury real estate firm specializing in the metro Boston area, Cambridge and Brookline. Elad believes in superb customer service and strives to exceed expectations at every opportunity. Elad was one of the top 30 brokers in the nation under 30 years old (Realtor Magazine, June 2009) and one of the top 25 Real Estate Agents in the metro Boston area in 2008 (according to MLS PIN). In his free time, Elad enjoys snowboarding, scuba diving and is an avid world traveler. Elad can be reached at (617) 529-7079.
