295k New Home Sales In Line With Expectations

suburb

Photo: wiki commons

295k new homes — seasonally adjusted annual rate — were sold in August, which was in line with the 294k expected.This is down 2.3% month over month, from July’s 302k number, which was revised up from an earlier reading of 298k.

In August, the average selling price for new homes was $246,000, which is down 8.7% from July.

The number could’ve been worse.  But they still look horrific in historical context.

Stocks sold off after the report came out.

historical new home sales

Photo: Calculated Risk

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