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US new home sales plummet in August |
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FXstreet.com (Barcelona) – Sales of new houses have declined sharply in the US in August to the lowest level in the last 17 years, while prices continued declining, according to data released by the US Commerce Department.
In August, new home sales declined 11.5% from July to a seasonally adjusted annual rate of 460,000 houses, from revised 520,000 annual rate in July, previously estimated 515,000 units. The annual rate of August is 34.5% below the level posted on the same month last year.
The median sales price has also posted a considerable decline, to to $221,900 in August from $236,500 in August last year.
Posted originally: 9/25/2008 2:12:00 PM
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