The Census Bureau reported that new home sales in August were at a seasonally adjusted annual rate (SAAR) of 295,000, according to the housing blog Calculated Risk. This was down from a revised 302,000 in July (revised up from 298,000).
Months of supply increased slightly to 6.6 in August. The all-time record was 12.1 months of supply in January 2009. This is still higher than normal (less than 6 months’ supply is normal).
Go to the Calculated Risk post about this.
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