New-home sales drop 8.1% in U.S.; 8.6-month supply is on market

11/25/2010 | · Christian Science Monitor, The

Sales of new houses in the U.S. fell 8.1% in October compared with the previous month, the Commerce Department said. Sales were down in every region except the South, where they increased 3.1%. Nationwide, the median sales price dropped 13.9% to $194,900, the lowest since 2003. The new-home inventory grew from 7.9 months to 8.6 months.

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