Aug US New Home Sales Down

US Aug new homes sales slid 8.3% (lowest in 7 years) at 795k units, down by 21% from a year ago. Median sales price has also dropped by 7.5% compared to a year ago. Inventory fell 1.5% to 529k units.

2Q07 GDP growth at 3.8%, better than 1Q07 at 0.6%.
2Q07 PCE (Personal Consumption Expenditures) price index increased by 4.3%. Minus off volatile food & energy prices, the core PCE increased by 1.4%.
2Q07 consumer spending higher by 1.4%, but slower than 1Q07 increase at 3.7%. Aug figure rose by 0.6% which was higher than Jul increase of 0.4%.

* Bloomberg-Home Sales , CNBC-GDP , Bloomberg-Spending , CNBC-Buy House? , RadarGaga-HPI *