Census revises July new home sales up 36,000 as the August rate reaches 684,000
Stock photo
The seasonally adjusted annual rate of new single-family home sales reached 684,000 in August, the Census Bureau and HUD reported Thursday. That was 6.4 percent above July, with a margin of error of 19.5 percentage points.
The monthly move is uncertain. The agencies say a change whose confidence interval contains zero is not statistically significant, and that it takes four months to establish a trend.
July changed more. Its estimate was revised to 643,000 from the 607,000 first reported in August. For-sale inventory held at 483,000, equal to 8.5 months of supply at the current pace. The median price was $393,700, against $417,900 a year earlier, but that change also did not clear its margin of error.


