Sales of U.S. New Homes Lower Than Forecast in August
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Fewer U.S. new homes than forecast were sold in August, signaling the housing market remains depressed even as mortgage rates dropped.
Purchases were unchanged at a 288,000 annual pace, matching July as the second-lowest in data going back to 1963, figures from the Commerce Department showed today in Washington. The median price fell to the lowest level in more than six years.