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AUGUST 1997 NEW HOUSING
SALES AT ANNUAL RATE OF 800,000
Sales of new one- family houses in August 1997 were at a seasonally adjusted annual rate of 800,000, according to estimates released today by the U.S. Commerce Department's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is 2 (+/—8) percent below the revised July rate of 818,000 and 2 (+/—11) percent below the August 1996 rate of 814,000.
The median sales price of new houses sold in August was $145,000; the mean sales price was $172,300. At the end of August the seasonally adjusted estimate of new houses for sale was 284,000. This represents a supply of 4.4 months at the current sales rate.
Through August 1997 there were 566,000 houses sold compared with 534,000 houses sold during the same period last year. This is an increase of 6 (+/—3) percent.
New One-Family Houses Sold
(Number Of Houses In Thousands)
Avg Rise (%) Category Aug 97-P Jul 97-R Aug 96 1st 8 mos.- X United States, (SAAR) 800 818 814 566 Northeast (SAAR) 74 64 84 57 Midwest (SAAR) 147 154 160 100 South (SAAR) 364 353 365 254 West (SAAR) 215 246 205 155
P–Preliminary
R–Revised
X–Not seasonallly adjusted.
September 30, 1997U.S. Department of Commerce
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