INFO THAT HITS US WHERE WE LIVE… Life in the housing market sure mimicked the ocean last week. Let’s start with the up part. New single-family home sales blasted up 18.0% in August, reaching a solid 504,000 unit annual rate. These sales are now 33% ahead of where they were a year ago, hitting their highest level in more than six years and posting their biggest monthly jump in 22 years! Plus, the median price of new homes sold was up 8.0% versus a year ago. With all the torrid selling going on, the months’ supply of new homes fell to 4.8, but inventories grew by 2,000 units although they’re still quite low. Builders may now be inspired to improve that situation.

Click here to read more “Life is like the ocean, it goes up and down.” –Vanessa Paradis, French singer, model, and actress

About the author

Amelia Wong | Wayne Mason

Luxury Homes Advisors | Broker | MBA

East meets West Power Team: Lead by Amelia Wong and Wayne Mason with complimentary expertise to serve local and international Buyers and Sellers. The Luxury Homes Power Team focuses on massive marketing approach that reaches out locally and globally to attract Luxury Home Buyers to the Silicon Valley Real Estate market. Amelia speaks fluent English, Chinese-Cantonese and Chinese-Mandarin while Wayne is a native Silicon Valley expert. Luxury Homes Power Team offers the best of both worlds to benefit their clients.

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