Housing Mortgages Information

New Home Sales +0.7% in August. Regional Results Mixed

September 25, 2009 – 6:47 am New home sales increased for the fifth straight month in August, but the 0.7% gain didn’t match the median estimate of +1.6%. The annual pace of sales is now 429,000, or 3.4% below the August 2008 rate. Not only were sales lower than expected, they were also so lopsided that only one of the four areas even experienced growth. Sales in the West jumped 12.1%, but sales fell 16.3% in Northeast and 5.8% in the Midwest, while activity in the South was flat....(read more)