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- U.S. new home sales increase in August
U.S. new home sales increase in August
The U.S.
Commerce Department announced on Wednesday that the sales of new single-family
homes rose 7.1 percent m-o-m to a seasonally adjusted annual rate of 713, 000
units in August.
Economists had forecast
the sales pace of 660,000 last month.
July’s sales
pace was revised up to 666,000 units from the originally reported 635,000
units.
According to
the report, new home sales in the South, the largest area, climbed 6.0 percent
in August. Sales of new homes in the West jumped 16.5 percent. But sales decreased
5.9 percent in the Northeast and dropped 3.0 percent in the Midwest.
In y-o-y terms,
new home sales recorded an 18.0 percent surge in August.
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