August New Residential Sales

August New Residential Sales

September 27, 2006

(Greenwich, 9/27/2006) Sales of new one-family houses in August 2006 were at a seasonally adjusted annual rate of 1,050,000, according today’s U.S. Census Bureau/HUD New Residential Sales in August, 2006 Report. This is 4.1% above July but 17.4% below August 2005. The median sales price of new houses sold in August 2006 was $237,000, just under its $240,100 level a year earlier but down 7.8% from its peak of $257,000 in April. The seasonally adjusted estimate of new houses for sale at the end of August was 568,000, 6.6 months supply at the current sales rate compared with 4.3 months supply a year ago.

JR

John Rutledge

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