Single-family home sales dip in August

Sales of single-family homes in August were at an annual adjusted rate of 1,237,000 nationwide, according to government statistics released Tuesday morning. That’s 9.9 percent below the rate for July, but 6.2 percent above August 2004. The median price of new single-family homes sold in August was $220,300, and the average sales price was $283,400. The government estimates that the number of new homes for sale at the end of August was 479,000, a 4.7-month supply of new homes at the current sales rate.

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