September new home sales dip in United States

Monday, Oct. 27, 2003 | 9:33 a.m.

WASHINGTON -- New-home sales edged down in September but sales nevertheless registered their third-highest level on record, a sign the housing market continues to help spur an economic recovery.

The Commerce Department reported today that new-home sales came in at a seasonally adjusted annual rate of 1.145 million in September, representing a small, 0.2 percent dip from the previous month.

Even with the drop, the level of sales was stronger than the 1.125 million pace that analysts were forecasting. New-home sales posted their best month ever in June, when they racked up a 1.200 million-unit pace. They turned in their second-best month on record in August, when sales came in at a 1.147 million rate.

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