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U.S. new home sales flat in August

Published 09/26/2010, 03:50 AM
Investing.com – U.S. new home sales were unchanged in August, official data showed on Friday.

In a report, the Census Bureau said that new home sales were at a 288,000 unit annual rate in August, unchanged from July's rate, which was revised up from a 276,000 unit rate.

Analysts had expected new home sales to increase to a 290,000 unit annual rate in August.

The report said that the number of new homes available for sale in August fell 1.4% to 206,000 units, the lowest level since August 1968.

The average sale price for a new home fell 0.6% from July to USD 204,700, the lowest since December 2003. Year-on-year the average sale price of a new home fell 1.2%.

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