The Morning Report
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We got some new MDA DataQuick numbers today, measuring sales that closed in August. Some highlights:
- All Home Sales Up: 3,306 homes sold in August, up 5 percent from August 2008. That’s the 14th straight month with a year-over-year rise for home sales.
- Fewer Resales Were Foreclosures: Foreclosure resales were 32.2 percent of resales in August, down from 35.1 percent in July and down from 43.1 percent a year ago. August’s share of foreclosure resales was the lowest of any month since December 2007, when it was 30.3 percent of sales.
- Resale Detached Homes: 2,047 sales in August, up 7.7 percent year-over-year.
- Resale Condos: 972 sales in August, up 7.6 percent year-over-year.
- New Homes: 287 sales in August, down 16.6 percent year-over-year.