New home sales plummet in August, prices tumble
WASHINGTON - New home sales tumbled in August to the slowest pace in 17 years, while the average sales price fell by the largest amount on record, demonstrating the depth of the problem that Washington is trying to solve.
The Commerce Department said Thursday that new homes sales fell by 11.5 percent in August to a seasonally adjusted annual sales rate of 460,000 units, the slowest sales pace since January 1991.
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Hey! Everyone's broke but the stock market is up 250! Everything must be a-okay again! :thumbsup:
WASHINGTON - New home sales tumbled in August to the slowest pace in 17 years, while the average sales price fell by the largest amount on record, demonstrating the depth of the problem that Washington is trying to solve.
The Commerce Department said Thursday that new homes sales fell by 11.5 percent in August to a seasonally adjusted annual sales rate of 460,000 units, the slowest sales pace since January 1991.
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Hey! Everyone's broke but the stock market is up 250! Everything must be a-okay again! :thumbsup:
