The US Census and HUD (Department of Housing and Development) released this morning the August 2011 New Residential Sales Report. (Sold, New Construction)
The headlines are reading: “New Residential Sales down 2.3% for August 2011.” Which is a true statement on a national statistic. Unfortunately they don’t break these figures down by County, City or State. They do however break it down by Region. Below is a graph I produced from this report showing the Midwest Region.
As a region, we fared much better than the rest of the nation. The Midwest Region had an 8.2% increase from July 2011 to August 2011 and a 65.6% increase from August 2010 to August 2011 in New Residential Sales. The midwest region was the only region that saw growth.
This is a good sign for our market.
- July Building Permits and Housing Starts for the Midwest (NAHB and Census Bureau) (craigkamman.wordpress.com)