New Home Sales in August Rebound to Second-Highest Level for Month Since 2004, North State BIA Reports
New home sales in the greater Sacramento area rebounded sharply in August to the second-highest total in 20 years after a July lull likely caused in part by the historic heat wave that month, the North State Building Industry Association reported..
BIA members reported selling 605 homes during the month in the region. That was up 40% from the 433 sales reported in July and 6% higher than the unusually high 573 homes sold in August 2023. The average number of sales for the month regionwide is just 406. This year’s monthly sales were the most during an August since 633 sold during the pandemic year of 2020 and were the second highest since 874 were sold in 2004 during the height of the turn-of-the-century housing boom.