New Home Sales Fall to Six-Month Low
New home sales fell for to a six-month low in August, the Commerce Department said Monday.
Sales fell 2.3% to an annual rate of 295,000, slightly above economists’ forecasts of a 293,000 rate, Bloomberg reported.
The median price fell to $209,100, from $226,600 a year ago.
Sales fell in three of four regions, led by a 14% drop in the Northeast. The Midwest posted the only gain.
New home sales account for about 15% of residential real estate sales. Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.
