Helped by falling prices, U.S. new home sales showed a modest 2.7% rebound in September, government data showed on Oct. 27.
Sales of new one-family houses rose to an annualized pace of 464,000, above market expectations of 458,000. Although the data showed a monthly gain, it was still down 33.1% from a year ago.
The median sales price of new houses was $218,400, compared to $221,900 a month earlier.
The inventory of unsold homes fell slightly to 394,000, a supply of 10.4 months at the current sales rate.
Copyright Agence France-Presse, 2008