US home sales slip lower in August despite upward trend

 
Ben Southwood
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US NEW home sales slipped slightly in August, data revealed yesterday, but not enough to dent the strong recovery.

Sales of new single-family homes were 373,000 in August, on the headline adjusted measure, down 0.3 per cent on the revised July figure.

Despite this monthly slip, sales were still some 81,000 – or 27.7 per cent – higher than August last year, the data, put out jointly by the Department of Housing and the Census Bureau, showed.

Even though sales fell slightly, the median price of a new home climbed a record 11.2 per cent to $256,000 (£158,490), the highest median since March 2007 and a 17 per cent climb on August 2011.