Home Sales Improve, Slightly
Sales of new homes improved last month, after the worst summer in nearly five decades — but not enough to lift the struggling economy. The Commerce Department says new home sales grew nearly seven percent in September. But they're still off 80 percent from the peak in July of 2005, when a record 1.4 million new homes were sold. Last month's boost was driven, in large part, by sales in the Midwest. The median price of a new home was about $225,000 — up three percent from a year ago.
