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New home sales up 7.9 percent over July, Commerce Department said
WASHINGTON, Sept. 25 () -- New U.S. one-family home sales jumped 7.9 percent in August, the U.S. Commerce Department said Wednesday.The department said sales of new homes reached a seasonally adjusted annual rate of 421,000, up from the revised July rate of 390,000.From a year earlier,[url=http://www.christianelouboutinoutlet.com]Christian Louboutin Discount[/url], sales rose 12.6 percent. In August 2012, the seasonally adjusted annual rate of sales posted was 374,000.The median sales price of a new home was $254,600 in August, down from $271,600 in July. The average sales price was $318,[url=http://www.christianslouboutinsales.com]Christian Louboutin Men[/url],900, down from $330,800 in July, the report said.The department said it would take 5 months for the market inventory of 175,000 new homes on the market to sell at the current rate of sales. In July,[url=http://www.christianelouboutinoutlet.com]Christian Louboutin Clearance[/url], it was estimated that the 156,[url=http://www.christianslouboutinsales.com]Christian Louboutin Outlet Online[/url],000 homes on the market at the time would have taken 4.1 months to sell out at the current sales pace.