Home sales in August increased, but at a much slower pace than the previous couple of months. Sales of new one-family houses in August 2009 were at a seasonally adjusted annual rate of 429,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.7 percent (+/-16.2%)* above the revised July rate of 426,000, but is 3.4 percent (+/- 13.3%)* below the August 2008 estimate of 444,000.

The median sales price of new houses sold in August 2009 was $195,200; the average sales price was $256,800. The seasonally adjusted estimate of new houses for sale at the end of August was 262,000. This represents a supply of 7.3 months at the current sales rate.

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Tags: mortgages economy

Credit Unions Online

Credit CARD Act Begins Taking Effect August 20, 2009
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Two provisions of the Credit CARD Act of 2009, aimed at protecting consumers, become effective on August 20, 2009.

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