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SCC - New Single-Family Home Sales Rose But So Did Inventory And Months' Supply
ProShares UltraShort Consumer Services
Sales of new single-family homes posted a small gain in August, increasing 1.5 percent to 740,000 at a seasonally-adjusted annual rate from a 729,000 pace in July.
Despite the gain, sales are down 24.3 percent from the year-ago level and are 25.5 percent below the 993,000 pace in January.
The total inventory of new single-family homes for sale rose 3.3 percent to 378,000 in August, the highest level since October 2008.