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New home sales in August reached an seasonally adjusted annual rate of 429,000, 0.7 percent higher than July, but 3.4 percent lower than August 2008, the department said.
In July, sales rose 9.6 percent over June, an indication the rambunctious run up had stalled.
The median sales price for new homes in August was $195,200, while the average price was $256,800, the report said.
The government said there was a 7.3 month supply of new homes on the market -- 262,000 homes -- at the end of August.
Copyright 2009 by United Press International.
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