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U.S. new home sales rebounding

Xinhua, August 26, 2015 Adjust font size:

Sales of U.S. new homes bounced back last month, suggesting the housing market is gaining momentum, the Commerce Department said Tuesday.

New home sales increased 5.4 percent to a seasonally adjusted annual rate of 507,000 units in July.

The median sales price of new houses stood at 285,900 U.S. dollars in the month, up 3 percent from the previous month.

The seasonally adjusted estimate of new houses for sale at the end of July represented a supply of 5.2 months at the current sales rate.

New home sales, though accounting for only a small share of total sales in the housing market, still have an important impact on job creation and household consumption. Endit