US home sales slip lower in August despite upward trend

Ben Southwood
Follow Ben
US NEW home sales slipped slightly in August, data revealed yesterday, but not enough to dent the strong recovery.

Sales of new single-family homes were 373,000 in August, on the headline adjusted measure, down 0.3 per cent on the revised July figure.

Despite this monthly slip, sales were still some 81,000 – or 27.7 per cent – higher than August last year, the data, put out jointly by the Department of Housing and the Census Bureau, showed.

Even though sales fell slightly, the median price of a new home climbed a record 11.2 per cent to $256,000 (£158,490), the highest median since March 2007 and a 17 per cent climb on August 2011.