U.S. New Homes See Surprise Gain, Prices Down
According to Commerce Department data, sales of new homes in the United States rose 2.8 percent in July, CNN Money reported August 24, 2007.
Prices were down 3.4 percent in July compared to July 2006.
"Even with the unexpected rise, the pace of sales only looked good by comparison to very weak sales seen so far this year. The pace of sales is still off 10.2 percent from year-ago levels, and the July sales pace would have been lower than any monthly reading seen from October 2001 through January of this year."
You also can watch this Fox News video about the increase in new home sales.
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