Regardless of what’s going on in the existing home market, SF Gate is reporting that new home sales are still increasing, with a record high in July.

“New-home sales in July soared to a seasonally adjusted annual rate of 1.41 million units. That represented a 6.5 percent increase from June’s pace of 1.32 million units, which had been the previous record”

This really doesn’t affect us in San Francisco, where we rarely (if ever) see ‘new’ homes, but it does show that people are still buying homes at a record pace, despite the doom-and-gloom tales by some economists and media outlets.

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