New home sales stayed flat in August, a modest miss from expectations. Still, new home sales are on track for a 16% increase year-over-year. This still puts annual sales at the third-lowest on record, but it’s a boost from the bottomed-out years of 2010 and 2011. The recovery is sluggish, but it’s moving in an upward direction.
More analysts are excited about the continued increase in home prices, designated by the Case-Shiller index released yesterday. They particularly point to prices at the low end: