New Home Sales Increase in August Sep 28, 2009

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Sales of newly built, single-family homes edged up by less than 1% in August as the window for an important buyer incentive began to close, according to the U.S. Commerce Department today. Sales posted a 0.7% gain to a seasonally adjusted, annual rate of 429,000 units for the month.

On a regional basis, new-home sales were mixed in August. A 12% gain in the West was entirely responsible for pushing the overall number upward, while the South posted no change from the previous month and the Northeast and Midwest each recorded declines, of 16.3% and 5.8%, respectively.

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