For example, the average listing price for homes in Arkansas rose 0.2 percent last month, and the average listing price increased 0.8 percent over the previous quarter, according to Zillow. The average home price in that state was $96,000 in August.
Sales of newly-built, single-family homes rose 5.7 in percent to a seasonally-adjusted annual rate of 313,000, the fastest pace experienced in five months. The inventory of new homes held steady at its record low of 163,000 units.
"Today's report highlights the gradual improvement in housing market conditions that is becoming evident in certain pockets of the country, as consumers who can surmount very restrictive lending standards to qualify for a favorable mortgage rate seize on this opportunity to buy," said Bob Nielsen, chairman of the National Association of Home Builders.
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