The first-time home buyer tax credit may be showing more signs of helping real estate sales recover. Sales of new one-family houses in July 2009 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly by the United States Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent above the revised June rate of 395,000, but is 13.4 percent below the July 2008 estimate of 500,000.

The median sales price of new houses sold in July 2009 was $210,100; the average sales price was $269,200. The seasonally adjusted estimate of new houses for sale at the end of July was 271,000 representing a 7.5 months supply at the current sales rate.

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Tags: mortgages economy

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