US New Home Sales Fall Less than Expected

Sales of new single-family houses in the United States fell 7.6 percent to a seasonally adjusted annual rate of 609,000 in August of 2016, better than market expectations of an 8.8 percent decline. Figures for the previous month were revised up by 5,000 to 659,000, the highest since 2007.

Sales in the Northeast recorded the biggest drop (-34.3 percent to 23 thousand), followed by the South (-12.3 percent to 343 thousand) and the Midwest (-2.4 percent to 81 thousand) while sales in the West rose 8 percent to 162 thousand. 

The median sales price of new houses sold declined to $284,000 from 293,100 in the previous month and 300,200 a year earlier. In contrast, the average sales price increased to $353,600 from $352,000 in July an 348,800 a year earlier. 

The stock of new houses for sale increased 1.7 percent to 235 thousand. This represents a supply of 4.6 months at the current sales rate.

Year-on-year, new home sales increased 20.6 percent. 

US New Home Sales Fall Less than Expected

US Census Bureau | Joana Taborda |
9/26/2016 2:19:47 PM