- New home sales tumbled in August to the slowest pace in 17 years,
- the average sales price fell by the largest amount on record,
- The Commerce Department said Thursday that new homes sales fell by 11.5 percent in August to
- the slowest sales pace since January 1991.
- It was a much bigger sales decline than the small 1 percent drop that economists had been expecting.
- The average price of a new home sold in August dropped by a record amount of 11.8 percent to $263,900,
- The median price was also down, falling 5.5 percent
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