Housing sale totals tick up across Northeast in August
Along with higher prices, housing markets up and down the East Coast may have posted an uptick in residential purchase totals during August.
Throughout the Northeastern region of the U.S., sales of single-family homes were observed at aseasonally adjusted annual rate of 37,000, according to data included in the latest joint release from the U.S. Census Bureau and the Department of Housing and Urban Development. The figure represented not only a nearly 9 percent month-over-month increase, but also an almost 28 percent improvement from August 2012’s total.
Rick Judson, president of the National Association of Home Builders, indicated that he thinks the recent numbers are largely promising, and may point toward heightened sales figures in the coming months.
“Consumers are adjusting to the reality of today’s higher rates following a period of record-setting lows, and today’s sales report provides evidence of that,” Judson said. “We expect to see more buyers coming back to the market as the psychological effects of the rate gains continue to wear off.”
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