New-home sales tick up as builders slash prices

This Oct. 18, 2011 photo, shows new home construction in a development in Canonsburg, Pa. Sales of new U.S. homes rose in September after four straight monthly declines, largely because builders cut their prices. The Commerce Department said Wednesday, Oct. 26, 2011 that 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 that economists say must be sold to sustain a healthy housing market. (AP Photo/Gene J. Puskar)

October 26, 2011 8:37:14 AM PDT
Sales of new homes rose in September after four straight monthly declines, largely because builders cut their prices in the face of depressed demand.

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