/ Source: The Associated Press
Sales of new U.S. homes rose in September after four straight monthly declines, largely because builders cut their prices.
The Commerce Department says sales rose 5.7 percent last month to a seasonally adjusted annual rate of 313,000 homes. Still, that's less than half the 700,000 economists say must be sold to sustain a healthy housing market.
The median sales price of a new home fell 3.1 percent to $204,400 — the lowest since October 2010. The number of new homes on the market was unchanged at 163,000, a record low.
Sales of new homes fell for four straight months before September and hit a six-month low in August. This year could be the worst year for sales since the government began keeping records a half century ago.
