The Shift from City Centers to Suburbs: New House Sales Soar for 3rd Month, +46% YoY, to Highest Since 2007 | Wolf Street

Sales of new single-family houses, based on contracts signed in August, jumped by 45.6% year-over-year to 83,000 deals, not seasonally adjusted, matching July deals, and a notch above June deals (79,000), according to the Commerce Department today. All three of them were the highest monthly sales since April 2007, but still well below the peaks in 2004 through 2006:

The median price of new houses sold in August fell 4.3% year-over-year to $312,000, and has been in the same range roughly for the past four years. The twelve-month moving average (red line), which irons out the month-to-month fluctuations, at $324,000, also shows that the median price has gone nowhere over the past few years:

The Shift from City Centers to Suburbs: New House Sales Soar for 3rd Month, +46% YoY, to Highest Since 2007 | Wolf Street