US: New Home Sales Rose Slightly in August |
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New home sales rose less than expected in August and sales for the prior month were revised slightly lower. Sales have increased for five consecutive months, which has helped clear inventories of unsold homes. New Home Sales Appear to be Running Out of Gas New home sales increased for the fifth month in a row in August but the gain was smaller than expected and July’s increase was revised lower. Sales continue to benefit from the $8,000 tax credit for first-time homebuyers. Nearly all of last
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