August new home sales flat

New single-family home sales nationwide remained flat in August, compared to July, according to a report released jointly today by the Department of Housing and Urban Development and the Commerce Department. August saw home sales hit a seasonally adjusted rate of 288,000, according to the report, remaining unchanged from July. This, however, is far below August 2009’s home sales, which had an estimated rate of 405,000. By the end of August, an estimated 206,000 new homes were available for sale, representing an 8.6-month supply of new homes, given the current sales rate. TRD

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