New home sales surpassed estimates: 384,000 vs. 352,000
However, please take note:
- This represents a 21.3% fall from June, 2008
- The median price has fallen 12% from June, 2008 and 5.8% from May, 2009
- Inventory stands at 8.8 months. This is a marked improvement from the last few months, but still exceeds the 20 year average of 5.8 months
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