NEW YORK CITY-New-home sales plunged once again in August, the fourth consecutive month of dropping sales for the environed home building market. The Commerce Department said that new-home sales ebbed 2.3% from last month's seasonally adjusted annualized rate of 295,000.
New-home sales are nearly 80% down from their boom-time peak in July 2005. The US median price for a new home was at $209,100 in August. The sales price was down 7.7% compared to last year. For the full story, go to Wall Street Journal .
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