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U.S. home sales dropped in August

| Tuesday, Sept. 26, 2017, 10:54 a.m.

Sales of new single-family homes dropped 3.4 percent nationally from July to August, according to the Census Bureau.

The data is based on a survey that includes the areas hit by hurricanes Harvey and Irma, which account for about 14 percent of the housing that was built in 2016, according to the agency.

On an annual basis, single-family home sales dropped 1.2 percent from August 2016 to last month.

The median sales price of new houses sold in August was $300,200. Nationally, the number of houses for sale at the end of August was 284,000, which would take about 6.1 months to sell at the current rate, the agency said.

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