New-Home Sales Explode In August
Sales increase nearly 29% from July, but the estimate may be inflated by lag in contract cancellations.
Sales increase nearly 29% from July, but the estimate may be inflated by lag in contract cancellations.
Month-over-month, purchase applications rebounded in August after four straight monthly declines.
Sales fell 12.6% from June, but are down nearly 30% YOY as affordability continues to shrink.
Sales of new single-family homes fell 8.1% in June from May.
Increase was the first this year; April estimate of sales also revised upward.
Despite the decline, MBA raised its estimate for the annual rate of single-family home sales for the year, for the first time in 5 months.