New homes sell at slowest pace in 17 years

Courtesy MSNBC.com: Business  Thu, 09/25/2008 - 09:29

The average price of a new home sold in August fell a record 11.8 percent to $263,900.Government data show sales of new homes dropped sharply in August, falling to the slowest pace in 17 years.

The average sales price fell by the largest amount on record, too.



 

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