Steel Markets
August 25, 2014
New Home Sales Fall for the 2nd Month
Written by Sandy Williams
Sales of new single family homes slipped 2.4 percent in July according to the most recent Department of Commerce estimates. Sales were down for the second month in a row at a seasonally adjusted annual rate of 412,000, but still 12.3 percent above the July 2013 estimate of 367,000.
The July sales rate was below economist predictions of 415,000 to 455,000 and was in contrast with improved builder confidence and a 15.7 percent jump in housing starts for the month.
