Nationally, prices for new homes rose 0.7% in August, continuing the upward trend that began in May 2020. New home prices rose in 13 of the 27 census metropolitan areas (CMAs) surveyed. London (+3.9%) reported the largest monthly change in new home prices in August. Residential activity indicators from the London St. Thomas Association of Realtors have been showing signs of supply shortages in the housing market since 2017. This was further exacerbated by the pandemic, which increased demand and put upward pressure on new housing prices. Active listings in London have been low since 2017, and the number of months of ... (full story)