Home sales and new construction activity for single-family homes cooled in the hot days of August, according to a new report from the County Economic Research Institute.
The research organization reported the sale of new and existing homes declined 7.2 percent to 975 in August, compared with the same month in 2013. Through the first eight months of 2014, homes sales were down 2.4 percent.
Builders also took out fewer residential construction permits in August, according to the research group. Permits were issued for 137 homes that month, down nearly 10 percent from August 2013. Year-to-date through August, permit activity is down about 4 percent.
One area that strengthened in August was the average sales price of new and existing homes in Johnson County. According to CERI, the average sales price for all homes was $260,680 in August, up 6.3 percent from the same month in 2013. The average sales price for the first eight months of 2014 was $267,376, up from $261,695 in 2013.
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The average price for new homes sold in August was $425,000, while the average sales price on existing homes that month was $259,900.
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