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US: Sales of new single-family houses in Aug were 560,000, 3.4% below July

"Sales of new single-family houses in August 2017 were at a seasonally adjusted annual rate of 560,000," the U.S. Census Bureau and the Department of Housing and Urban Development announced on Tuesday.

Key quotes:

  • This is 3.4 percent below the revised July rate of 580,000 and is 1.2 percent below the August 2016 estimate of 567,000.
  • The median sales price of new houses sold in August 2017 was $300,200.
  • The average sales price was $368,100. 
  • The seasonally-adjusted estimate of new houses for sale at the end of August was 284,000. This represents a supply of 6.1 months at the current sales rate. 

United States New Home Sales Change (MoM) below forecasts (3.3%) in August: Actual (-3.4%)

United States New Home Sales Change (MoM) below forecasts (3.3%) in August: Actual (-3.4%)
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Richmond Fed: Composite manufacturing index rose from 14 to 19

"Reports on Fifth District manufacturing activity improved in September," the Federal Reserve Bank of Richmond said on Tuesday. Key takeaways: The
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