New Home Sales Slow

Sales of new single-family homes in the U.S. in August slowed a bit more than economists generally expected.

Sales were at a seasonally adjusted annual rate of 1.237 million, 9.9% below the revised July rate of 1.373 million, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development jointly reported on September 27. Economists had expected an August rate of 1.33 million.

The median price of homes sold in August was $220,300; the average sales price was $283,400.

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