Investing.com - Sales of new U.S. single-family homes unexpectedly fell for a second straight month in August, adding to concerns over a slowdown in the recovery in the housing market.
The Commerce Department reported that new home sales declined 3.4% to a seasonally adjusted annual rate of 560,000 units last month.
Economists had expected new home sales to increase by 3.3% to an annual rate of 588,000.
Figures for July were revised up slightly to show sales of 580,000 units from the previously reported 571,000 units.