August 2014 New Home Sales Hit Highest Level in Six Years

hardhat canstockphoto1396154 (Jeff Sorg, OnlineEd) – According to the US Department of Housing and Urban Development and the US Census Bureau, newly built, single-family homes increased 18 percent in August to a seasonally adjusted annual rate of 504,000 units in August, the highest level since 2008. Regionally, sales remained unchanged in the Midwest, but climbed 7.8% in the South, 29.2% in the Northeast, and 50% in the West.

“This robust level of new-home sales activity is a good sign that the housing recovery is moving towards higher ground,” said National Association of Home Builders Chief Economist David Crowe. “Historically low mortgage rates, attractive home prices and firming job and economic growth should keep the housing market moving forward in 2014.”

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This article was published on September 25, 2014. All information contained in this posting is deemed correct and current as of this date, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

Jeff Sorg

About the Author

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center's CDEi Designation for distance education in 2008. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.