Sales of new homes increased 0.7% in August, but were 3.4% less than the levels in August 2008, the Commerce Department reported today.
August's sales were at a seasonally adjusted annual rate of 429,000, compared with 426,000 last month and 444,000 in August 2008.
There were 464,000 new homes sold, compared with 452,000 in August and 694,000 in September 2007.
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