The Philadelphia, PA market saw an increase in closings of new homes in August year-over-year, but the percentage lift was not as steep as July 2013, giving hints of market leveling out. There was a 6.8% rise in new home closings from a year earlier. This followed a 11.8% jump year-over-year in July.
A total of 5,376 new homes were sold during the 12 months
that ended in August, up from 5,343 for the year that ended in July.
New home closings accounted for 7.1% of overall housing
closings. They accounted for 7.4% of closings a year earlier. Following a
year-over-year increase in July, closings of new and existing homes also rose
year-over-year in August.
See the whole post, graphs and analysis here…
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