New Home Sales Up 3.5% in August Even as Affordability Concerns Persist

Sales of newly built, single-family homes rose 3.5% in August to a seasonally adjusted annual rate of 629,000 units after downwardly revised June and July reports, according to newly released data from HUD and the Census Bureau. These downward revisions suggest softness in new-home sales activity this summer. However, on a year-to-date basis, sales are up 6.9% from this time in 2017…read more