Home sales decline four months in a row - WMC Action News 5 - Memphis, Tennessee

Home sales decline four months in a row

(CNN) - New home sales are down for the fourth straight month, according to the Census Bureau.

The agency says sales dropped 2.3 percent last month to a seasonally-adjusted annual rate of 295,000. That's down from 302,000 new home sales in July.

Still, the government says the numbers are up 6 percent over a year ago.

This latest drop comes even though interest rates hit historical lows.

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