September 25, 2015

August Home Sales

With new home sales data out for August, we're currently running 124,000 home sales (non-seasonally adjusted) above the August 2013 rate keeping us on track for the best year in home sales since 2007.

Existing-home sales fell 4.8% from the previous month to a seasonally adjusted annual rate of 5.31 million in August. Meanwhile, new home sales increased 5.7% last month to a seasonally adjusted annual rate of 552,000 units.

Currently existing home sales are up 1.9%, and new home sales are up 19.4% compared to 2013 through August on a non-seasonally adjusted basis.

On a non-seasonally adjusted basis it's normal to start to see home sales slowdown as the bulk of home buying activity tapers off for the year. Summer vacations end, kids go back to school and everyone's commute, unfortunately, also gets back to normal.

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