Architecture Billings Slip in August, but Remain Positive

The Architecture Billings Index (ABI) fell 2.8 points to a reading of 53.0 in August, after reaching its highest level in seven years in July. All three major sectors reported an increase in design activity during the month.

New Home Sales Surge in August to Six-Year High

New home sales spiked 18 percent in August to a 504,000-unit pace with upward revisions to previous months’ data. Much of the increase was concentrated in the Northeast and West. Inventories also rose.