WASHINGTON — The sales of new US homes fell 2.3 percent in August to an annual rate of 295,000, marking the fourth decline in a row, the Commerce Department reported Monday.

Sales dropped last month to the lowest level since February.

In July, sales were revised up to 302,000 from 298,000 on a seasonally-adjusted basis.

After peaking in 2011 at 316,000 in April, new-home sales have gradually declined. Also, the average selling price sank 8.7 percent from July to $246,000, the lowest level since early 2009.

At current sales rates, unsold new homes on the market represented a 6.6 month supply. The actual number of new homes available decreased to 162,000 to set yet another record low.

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