New Home Sales Stalled in August

[Wednesday, September 26, 2012]  Sales of new single-family houses in August 2012 were at a seasonally adjusted annual rate of 373,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.3 percent below the revised July rate of 374,000, but is 27.7 percent above the August 2011 estimate of 292,000.

The seasonally adjusted estimate of new houses for sale at the end of August was 141,000. This represents a supply of 4.5 months at the current sales rate. Read More ...