Sales of new homes increased 0.7% in August, but were 3.4% lessthan the levels in August 2008, the Commerce Department reportedtoday.

August's sales were at a seasonally adjusted annual rate of429,000, compared with 426,000 last month and 444,000 in August2008.

There were 464,000 new homes sold, compared with 452,000 inAugust and 694,000 in September 2007.

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