U.S. New Home Sales Rose in August
By Maria Martinez
Purchases of new single-family houses in the U.S. rose in
August, for the second consecutive month. Here are the main
takeaways from the Commerce Department's report released
--New home sales increased 1.5% in August compared with July to
a seasonally adjusted annual rate of 740,000.
--Sales are above the forecast of economists polled by The Wall
Street Journal, who expected a 1.7% increase to a seasonally
adjusted annual rate of 720,000.
--August sales were 24.3% below the same month a year earlier,
when sales roles to a seasonally adjusted annual rate of
--New home sales in July were upwardly revised to 729,000 from
an earlier estimate of 708,000.
--Monthly new residential sales data is volatile and often
revised. August's figures came with a margin of error of 15.1
--The median price of a new home was $390,900 in August,
unchanged from July.
--The seasonally adjusted estimate of new houses for sale at the
end of August was 378,000. This represents a supply of 6.1 months
at the current sales rate.
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires
September 24, 2021 10:34 ET (14:34 GMT)
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