New Home Sales Cooled In August

August posts biggest drop since Sept. ’15; still, year-over-year gains are impressive; weather in east could be a factor.

By Hanley Wood Data Studio

The numbers are in: Sales of new single-family houses in August 2016 came in at a seasonally adjusted annual rate of 609,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. The rate was 7.6% below the revised July rate of 659,000 but 20.6% above the August 2015 estimate of 505,000. It also was above the consensus Wall Street estimate, per Bloomberg, of 598,000, and, per The Wall Street Journal, of 602,000.

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