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US Sales of New Homes Surged in August

U. S. sales of newly-built homes surged 18 percent in August. Wednesday's report from the Commerce Department says if sales continued at that pace for a year, half a million homes would get new owners. It is the fastest rate of new-home sales since 2008, and a hopeful sign of recovery in a housing market that has seen a mix of positive and negative reports in recent months. But new home sales are about one-tenth of the housing market that is dominated by sales of...

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