By the Numbers
All four geographic regions saw increases, led by the Midwest, which clocked a 10.4% rise from July, and the South, where sales rose 8.6%. Pending transactions rose 7.2% in the West and 4.6% in the North.
The 10-city composite index rose 1.4% on a monthly basis and 19.1% on a yearly basis, while the 20-city composite gained 1.5% monthly and 19.9% annually.
The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.
The increase was driven by a 21.6% month-over-month spike in the rate of new multifamily construction. Single-family housing starts, meanwhile, slid 2.8%.
September’s reading of 76 was up one point from August, despite lingering challenges with labor and the building-material supply chain, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.
Month over month, home sales were down 3.5%, and the median sale price declined 1.2% to $335,000.
Texas had the second-most foreclosure starts in the nation during August 2021, according to new data from ATTOM’s U.S. Foreclosure Market Report.
Pending home sales in August rose just 9%, the slowest growth since June 2020, according to a new Redfin report.
A decline in new home listings has had little impact on the market as far as demand is concerned, according to a recent Redfin report.
Housing starts, existing-home sales and housing inventory were all down in Houston during August. But days on the market also fell.