New home sales drop in August

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Sales of new homes fell 4.4 percent in August, held back by the worst drop in the South in three years. Nationally, homes sold at a seasonally adjusted annual rate of 838,000, the lowest monthly.

Existing home sales decline in August New home sales drop as prices rise – WJXT –  · Even with a drop in home sales, the housing market is still bolstered by an enduring labor market, Reuters reported, though surging prices due to a shortage of homes on the market is weighing it down.

 · New home sales drop in October Wednesday, November 28, 2018 by Floor Covering Weekly [Washington] Sales of newly built, single-family homes fell to a seasonally adjusted annual rate of 544,000 units in October after an upwardly revised september report, according to newly released data by the U.S. Department of Housing and Urban Development and.

The actual list price of homes is dropping at a similar rate. In all, sales prices have. according to the new Case-Shiller home price index released Tuesday. The index showed the region’s largest.

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Year-on-year, existing home sales declined 4.4 percent. Existing Home Sales in the United States averaged 3956.19 Thousand from 1968 until 2019, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970. Existing Home Sales occurs when the mortgage is closed.

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The inventory of new homes for sale was 284,000 in August, which is a 6.1-month supply at the current sales pace. Regionally, new home sales remained unchanged in the Midwest. Sales fell 2.6 percent in the Northeast, 2.7 percent in the West and 4.7 percent in the South.

The median sales price of a new home fell to $284,000 in August, well off the April 2016 peak of $321,901. The drop in prices does not represent an over-supplied market, rather it reflects builders shifting away from the well-supplied luxury home market.

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