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Sales of U.S. New Homes Ease as Prices Dip to Lowest Since 2017

     

Photographer: Daniel Acker/Bloomberg

Sales of new U.S. homes eased and prices continued their downward trend, suggesting the momentum in the sector may be slowing despite low mortgage rates and steady wage gains.

Single-family home sales fell 0.7% to a 701,000 annualized pace, nearly matching economist estimates, while the August figure was revised down, government data showed Thursday. The median sales price decreased 8.8% from a year earlier to $299,400, the lowest since February 2017.