Steel Markets
September 26, 2018
New Home Sales Rebound in August
Written by Sandy Williams
Sales of new homes increased last month despite affordability issues related to building costs. Sales of new single-family homes rose 3.5 percent in August compared to July and were 12.7 percent higher than in August 2017. The seasonally adjusted annual rate was estimated at 629,000.
Sales were strongest in the Northeast, soaring 47.8 percent from July, and were 9.1 percent higher in the West and 2.7 percent higher in the Midwest. Only the South posted declining sales for August, dipping 1.7 percent.
