WASHINGTON–U.S. sales of newly constructed homes gained 0.7 percent in August over July, finishing the month at a seasonally adjusted, annual rate of 429,000 units, according to the U.S. Census Bureau.
The August total was off 3.4 percent from August 2008. The fact that the increase was less than 1 percent was another occasion for the National Association of Home Builders to urge the U.S. Congress to extend the $8,000 home-buyer tax credit, which is now set to expire at the end of November. NAHB chairman Joe Robson said the prospects for home buyers to close a transaction in time to take advantage of the credit “dimmed considerably in August.”