Seeking Alpha

New home sales pace slowing down

  • New single-family home sales of 421K in August were 7.9% above July's pace and ahead 12.6% from a year ago. New home inventory of 175K is the highest in more than two years, and represents five months of supply vs. 5.2 months in July.
  • Higher interest rates take a bite: The July print of 390K and today's August print of 421K are the slowest paces of new home sales recorded this year.
  • The ITB and XHB are each up slightly.
  • Full report.
Comments (3)
    25 Sep 2013, 10:52 AM Reply Like
  • but mortgage applications are up for second week in a row, this is a booming housing recovery that will surely last another week or so.
    25 Sep 2013, 12:10 PM Reply Like
  • that's funny!
    25 Sep 2013, 02:23 PM Reply Like
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