Home Sales - Census Data

From the Census Bureau:

Sales of new single-family houses in August 2010 were at a seasonally adjusted annual rate of 288,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is unchanged (±16.7%)* from the revised July rate of 288,000 and is 28.9 percent (±11.0%) below the August 2009 estimate of 405,000. ,

The median sales price of new houses sold in August 2010 was $204,700; the average sales price was $248,800.  The seasonally adjusted estimate of new houses for sale at the end of August was 206,000.  This represents a supply of 8.6 months at the current sales rate.

Graphically:

So, this is what federally funded housing stimulus (yep, thats tax credits) and two crippled housing agencies gets us. 





The rest of this happy release can be found here:  Census Home Sales.

Its not getting better, is it.  Imagine if the shadow inventory started coming out.  Imagine if GMAC/Ally could continue foreclosing.  Its enough to make one shrug and crawl into a hole.  Soon, I will rant about housing and why I dont see what the big deal is.  Ought to be fun.

One last thing:  Without comments/thoughts/suggestions it feels like I am preaching to myself or there is complete agreement.  This is not what markets are made of.