The new home market finished August much like it began.

Our Weekly Traffic & Sales Watch reported another very slight weekly increase in both traffic and net sales.  Total net sales in August also showed a 12 percent increase from July.  The cancellation rate remained above 25% for the ninth straight week, jumping to over 32 percent.  The top 3 (of 20 reporting) builders accounted for over 73 percent of weekly sales.  They were the only ones to report double-digit net sales on the week.  A year ago we would see 6 to 10 builders with that volume each week.    

We reported no new communities again this week and only reported two for the entire month of August.

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