New Home Sales for August, 2007

The August, 2007 New Home Sales report was released this morning:

Predicted: 835,000

Actual New Home Sales: 795,000

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Change from Last Month: -8.3%

Change from Last Year: -21.2%

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Median Price for a New Home during August: $225,700

Average Price for a New Home during August: $292,000


Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the monthly New Home Sales report measures the number of newly-built homes with committed buyers for a given month.

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners and microwave ovens.

Click here to view the full Commerce Department report (PDF).

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