Sales of newly built single-family houses in August were at a seasonally adjusted annual rate of 560,000, a 3.4 percent slide from July’s rate of 580,000 and 1.2 percent down from the August 2016 rate of 567,000, according to the U.S. Census Bureau.
While this is the lowest sales reading since December 2016, according to the National Association of Home Builders, year-to-date sales are 7.5 percent higher than the same period in 2016.
"The year-to-date growth shows that new home sales are continuing to make consistent, long-term gains," said NAHB Chief Economist Robert Dietz in a statement. "However, we may see more volatility in the next few months as communities affected by the recent hurricanes experience construction delays and other economic disruptions."
