New Home Sales Tumble in August but Still Top Projections

Sales of new single-family houses in August slipped 7.6 percent, but remain above monthly projections, according to new results from the Commerce Department. Single-family home sales were at a seasonally adjusted annual rate of 609,000, soaring 20.6 percent above the August 2015 estimate of 505,000.
So what are homes selling for? According to the study, the median sales price of new houses sold in August 2016 was $284,000. The average sales price was $353,600. The seasonally adjusted estimate of