US New Home Sales up a little but Still MANY Problems Persist in the weak market

New homes sold at a seasonally adjusted annual rate of 372,000 in July, according to the Commerce Department.

This is 3.6 percent above the rate a month ago just a bit higher than economist expectations.

However, sales remain well below the annual pace of 700,000 that economists consider healthy. As a matter of fact, it is now about half that level.

On top of that, The median price for a new house decreased 2.5 percent in July from the same month last year, to $224,200.

In the still weak housing market, it is hard to sell your house quickly, especially in the Bronx and Brooklyn where foreclosures are flooding into the market.

---

However, there is always a way to Sell Your House Quickly for CASH. For more details, please visit our main website.