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US new home sales fall 8.7%, below expectations

New home sales in the US fell 8.7% to a rate of 675,000 in August, below market expectations.

US new home sales fall 8.7%, below expectations

The US Department of Commerce released new home sales statistics for August.

According to this information, new home sales in the country fell by 8.7 per cent to a seasonally adjusted 675,000 in August compared to the previous month.

New home sales, which were below market expectations, were expected to be 700 thousand in the period.

In July, new home sales rose by 8 per cent to 739 thousand.

Compared to the same period last year, US housing sales rose by 5.8 per cent.

The median sales price of new homes sold in the country last month fell by about 2.3 per cent from a year earlier to $430,300.


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