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U.S.Economy: 
August New Home Sales Drop 3.6%
Author: 123jump.com Staff
123jump.com
Last Update: 10:58 AM ET October 28 2009


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Seasonally adjusted new home sales increased 3.6% to 402,000 but fell 7.8% from a year ago. The median sale price of new homes sold in the month was $204,800 and average price was $282,600 with 7.5 months of inventory.

 
The following is the unedited transcript of the news release from the U.S. Department of Commerce.

NEW RESIDENTIAL SALES IN AUGUST 2009

Sales of new one-family houses in August 2009 were at a seasonally adjusted annual rate of 429,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.7 percent (±16.2%)* above the revised July rate of 426,000, but is 3.4 percent (±13.3%) below the August 2008 estimate of 444,000.

The median sales price of new houses sold in August 2009 was $195,200; the average sales price was $256,800. The seasonally adjusted estimate of new houses for sale at the end of August was 262,000. This represents a supply of 7.3 months at the current sales rate.

Available at:

http://www.census.gov/const/newressales.pdf
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