U.S. August new home sales fall 9.9%

MarketWatch reports that:

The median price of a new home in the U.S. ticked back upwards, to $220,300, after falling to $203,800 in July.

Sales of new homes in the Northeast took the biggest hit in August, dropping by 22% to 78,000, the Commerce Department said. Sales in the West also dropped sharply, by 18%, to 353,000. Midwestern sales declined by 11% to 194,000 and new home sales in the South fell by 2% to 612,000.