Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



New Home Sales Up 7.9% for August

New single-family home sales increased 7.9% to a seasonally adjusted annual rate of 421,000 for August, according to a Commerce Department report (link opens a PDF) released today.

After a steep revised 14.1% drop for July, this latest report revitalizes some confidence in the housing market recovery even as mortgage rates rise. Analyst expectations proved almost exactly on the mark, having predicted a rate of 425,000. 


On a regional level, Midwest sales jumped 19.6% month-to-month, followed by 15.3% gains in the South and an 8.8% improvement in the Northeast. The West was the only region to head into the red for August, with new home sales down 14.6%. In the past 12 months, national sales of new homes are up 12.6% with the Northeast and South notching gains over 27% while the Midwest saw 15% gains and the West saw a 21% decrease.

At the current rate of sales, there is an estimated 5.0 months of supply, compared with 5.2 months in July. The average price for a new home edged up $400 from July to hit $318,900, the highest value since April. 


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2654472, ~/Articles/ArticleHandler.aspx, 10/1/2016 5:11:47 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 7 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes