New home sales dropped in August from the previous month as would-be homebuyers wait for mortgage rates to fall further.
Sales of new homes fell 4.7% in August to a seasonally adjusted rate of 716,000 units, down from July’s revised rate of 751,000,on Wednesday. The reading on an annual basis rose 9.8% from last August and exceeded Bloomberg consensus expectations for sales to reach 700,000 unit pace.
While mortgage rates are still high, they have moved downward since May as investors anticipated the Fed’s first interest rate cut. The average NOVATO, CALIFORNIA: Sales of new homes fell 4.7% in August to a seasonally adjusted rate of 716,000 units, down from July’s revised rate of 751,000,on Wednesday. The reading on an annual basis rose 9.8% from last August and exceeded Bloomberg consensus expectations for sales to reach 700,000 unit pace. Meanwhile, builders are penciling out more projects as borrowing costs are expected to move lower, with housing starts bouncing back in August.
NEW YORK, September 25, 2024--Align secures MSP of the Year award for the 2nd consecutive year at the MSP 501 Summit Gala in Atlanta.The Republican leaders of U.S. House of Representatives national security committees demanded on Wednesday that Democratic President Joe Biden's administration release an unclassified version of its report on its strategy for the war in Ukraine. They made their demand a day before Ukrainian President Volodymyr Zelenskiy was to visit the U.S.
Census Bureau Seasonally Adjusted Rate Consensus Expectations Sales Activity
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
August New Home Sales Reach New 'Historical Low' In The GTATeagan has covered Toronto, GTA, and Ontario cottage country real estate. Before coming to STOREYS as a staff writer, she was a freelance writer for Toronto Life and Cottage Life.
Read more »
'A stark picture:' GTA home sales in August hit historic low, new report findsA homebuilding industry association says new home sales in August were at a historic low in the GTA with the data painting a “stark picture of a housing market that is struggling with deep structural issues.”
Read more »
'A stark picture:' GTA home sales in August hit historic low, new report findsA homebuilding industry association says new home sales in August were at a historic low in the GTA with the data painting a “stark picture of a housing market that is struggling with deep structural issues.”
Read more »
New home sales cooled in August, but not as much as fearedNew data from the US Census Bureau showed that new home sales in August declined by less than economists were expecting. Seana Smith and Madison Mills break ...
Read more »
Gold prices within striking distance of $2,700 as U.S. new home sales fall 4.7% in AugustThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
In New Orleans, nonprofits see new money and new inclusive approach from the NBA FoundationNEW ORLEANS (AP) — A classic summertime scene unfolded at a nonprofit's newest site. The girls' team was winning a lively indoor kickball game among young...
Read more »