Los Angeles Home Sales Increase for the Month of August

Home sales across the country increased from July’s figures. Home sales saw a climb of 7.9% with 421,000 closed deals indicating a 12.6% jump from 2012’s August sales figures.  Analysts originally estimated that 425,000 would sell this month, but the final figures fall just short of this projection.

The recession caused a massive decrease in development, and this is still evident to this day. However, development and construction of new homes continues to see a steady rise. The main concern continues to be a lack of development ready lots.

Homes that were newly constructed across the country saw a rise in sales in every market other than the West, with sales dipping 14.6% from July 2013.  A new home sale’s median price for August 2013 was $254,600 across the nation.

Nearly every city within Los Angeles County saw an increase in sale price for homes for the month of August 2013 when compared to August 2012 figures.

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