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New Home Sales Were Flat In August, But Prices Rose Sharply

Model homes at a new development in Millbrae, Calif., earlier this year.
David Paul Morris
/
Getty Images
Model homes at a new development in Millbrae, Calif., earlier this year.

While the number of new homes sold in August was barely changed from July, the median sales price was up sharply, . So the news adds to other recent signs, including , of a recovering housing sector.

According to the report, new homes sold at an annual rate of 373,000 last month — vs. 374,000 in July. The median sales price, though, was $256,900. That was up 11.2 percent from the month before.

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Mark Memmott is NPR's supervising senior editor for Standards & Practices. In that role, he's a resource for NPR's journalists – helping them raise the right questions as they do their work and uphold the organization's standards.
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