New Home Sales Fall to 6-Month Low

Now’s the time to buy that new house: new home sales fell 2.3 percent to a six-month low, with prices dropping 7.7 percent, the largest decline since August 2009. The drop puts the market on track to see 295,000 new homes sold this year, just a hair above what economists have predicted. Foreclosure-driven price increases on other homes may be keeping buyers away from new houses, and limited access to credit continues to drag down the new-home market.