August New Home Sales Below Expectations, Remain Awful

August new home sales were just below expectations, unchanged over July.

Sales were at 288,000, annualized and seasonally adjusted. The consensus was for 290K. Last month, sales were at 288,000 annualized and revised.

July new home sales fell 12.4% month-over-month, and 32.4% year-over-year.

The median sale price im August was $204,700. There remains an 8.6 month supply in the system, according to the release.

Existing home sales barely beat expectations yesterday, but still remain very low.

Check out the full release here >

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