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New Home Sales Fall to Five-Month Low

8/23/2011 10:15:00 AM
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New home sales fell for the third straight month in July, declining 0.7% to 298,000, the lowest level in five months, the Commerce Department said Tuesday.

Economists had forecast the July rate to be 310,000, Bloomberg reported.

The median price increased 4.7% from the same month in 2010 to $222,000.

Sales fell in two of four regions, led by a 7.4% downturn in the South. Demand fell 5.9% in the West.

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.

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New Home Sales Fall to Five-Month Low (8/23/2011 10:15:00 AM)
Existing Home Sales Fall 3.5% in July (8/18/2011 10:45:00 AM)
Freight Tonnage Jumps 6.8% in June (8/1/2011 8:00:00 AM)
New Home Sales Dip 1% in June (7/26/2011 10:10:00 AM)
Existing Home Sales Fall to Seven-Month Low (7/20/2011 10:15:00 AM)
New Home Sales Fall 2.1% in May (6/23/2011 10:00:00 AM)

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