Real Estate News: New-home sales increase at fastest rate in 8 years

Last week we shared some positive news for the real estate market, as existing-home sales increased in June, housing inventory declined and there are more buyers looking to purchase homes.

Today, we received even more good news for the housing market, as new-home sales increased at the fastest rate in more than eight years. Check out the AP's story on June's 11 percent new-home sales increase.

As result of the new-home sales increase, the inventory of new homes is decreasing, in what could lead to a rebound in home prices. The inventory of new homes has decreased for three consecutive months, to 8.8 months of inventory at the end of June. While economists consider six months of inventory to be healthy, the 8.8-month rate is down from a 12.4 month inventory in January.

Inman News has more information on the current new-home inventory.

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