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The Week Ahead: New Home Sales

shutterstock_268901966On Tuesday, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD) will release their New Home Sales Report, which announces the following new residential sales statistics for August 2017.

The report revealed that sales of new single-family houses in July 2017 were at a seasonally adjusted annual rate of 571,000. This is 9.4 percent below the revised June rate of 630,000 and is 8.9 percent below the July 2016 estimate of 627,000.

In addition, the median sales price of new houses sold in July 2017 was $313,700. The average sales price was $371,200.

The seasonally-adjusted estimate of new houses for sale at the end of July was 276,000. This represents a supply of 5.8 months at the current sales rate.

The August report is scheduled for release at 10 a.m. EDT.

Other Events in the Week Ahead: 

Freddie Mac Weekly Mortgage Survey, Thursday, 10 a.m. EDT

Janet Yellen Speaks about Prospects for Growth, Tuesday, 11:50 a.m. EDT

S&P Corelogic Case-Shiller HPI, Tuesday, 9 a.m. EDT

Pending Home Sales Index, Wednesday, 10 a.m. EDT

Consumer Sentiment, Friday, 10 a.m. EDT

About Author: Joey Pizzolato

Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email joseph.pizzolato@thefivestar.com.

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