Thursday, September 27, 2007

New Home Sales Plummet 21%

Sales of new homes fell 21.2% in August from the same month in 2006, to a seasonally adjusted annualized rate of 795,000 units, according to the Census Bureau. Through the first eight months of 2007, some 595,000 new homes have been sold, 21.2% behind 2006's pace. The mark was the lowest since June, 2000.
The median sales price of a new home during the month was $225,700, down 7.5% from the median price in August, 2006.

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