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ECON: New Home Sales Bounce Back As Expected
Posted to: Micro News
Wednesday, September 25, 2013 10:06 AM
- Single Fam Sales 421k Annual Pace vs 420k forecast
- July revised lower to 390k from 394k
- "West" region -14.6 pct
- Market Reaction: Limited reaction so far, if any reaction at all. Neither Treasuries or MBS have done anything with the data so far, and they can be forgiven for this considering the data was even more equivocal than Durable Goods.
Sales of new single-family houses in August 2013 were at a seasonally adjusted annual rate of 421,000, according to
estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 7.9 percent (±14.6%)* above the revised July rate of 390,000 and is 12.6 percent (±15.3%)* above the August
2012 estimate of 374,000.
The median sales price of new houses sold in August 2013 was $254,600; the average sales price was $318,900. The
seasonally adjusted estimate of new houses for sale at the end of August was 175,000. This represents a supply of 5.0
months at the current sales rate.
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