The Commerce Department said new home sales dropped 7.8 percent to a seasonally adjusted annual rate of 593,000 units last month, the lowest level since August 2017. Economists polled by Reuters had forecast new home sales, which account for nearly 10 percent of the housing market, rising to a pace of 645,000 units last month.
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· The inventory of completed new homes dropped 16,000 in August alone, by far the steepest one-month drop on record. There is more pain to.
August new-home sales nationwide fell 34.5 percent from 2007, even as builders battled to reduce unsold inventory to try to get the housing slump to hit bottom. The Department of Commerce said yesterday that sales of new single-family houses during August were at a seasonally adjusted rate of 460,000, falling 11.5 percent below July’s revised.
· At the sales rate in August, there were 4.6 months of housing supply on the market, up from 4.2 months in July, but below levels seen earlier this year. NOW WATCH: This brick-laying robot can.
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New-home sales edged down to a seasonally adjusted annual rate of 373,000 in August, a dip of 0.3 percent from July’s revised rate of 374,000, the Commerce Department said Wednesday. That had been the fastest pace since April 2010 when government tax credits were boosting sales.
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The seasonallyadjusted estimate of new houses for sale at the end of October was 336,000. This represents a supply of 7.4 months at the current sales rate.
· New home sales drop in April but outlook is bright. Sales of new single -family houses fell 6.9% in April as prices rose. analysts believes sales will pick up later this year.
Forecast: More Than 8 Million Foreclosures By 2012 Home prices in 20 U.S. cities dropped more than forecast in December to the lowest level since the housing crisis began in mid-2006, indicating foreclosures. 2012.” Recent reports indicate demand.
Because of those lower prices, sales of existing homes in the West rose 5.9 percent in August over the same month in 2007, but prices fell 23.9 percent year over year because slightly less than.
· August new home sales tally also outpaced the year-ago record by 12.7%. So far in 2018, new home sales in the United States have increased 9% year over year.
August 08, 2018 12:27 PM. New-home sales down in first half of 2018. Sales of newly built homes in the Chicago area rose in the second quarter of the year,