USA: sharp decline in new home sales in August

(CercleFinance.com) - After jumping 10.
3% in July, new home sales in the USA contracted by 4.7% in August, according to the Commerce Department, to 716,000 annualized and seasonally adjusted figures.

The median price of new homes sold was $420,600, and the average price was $492,700. At 467,000, the inventory of new homes ready for sale represents a 7.8-month supply at the current rate.

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