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Monthly US New Home Sales Decline

Sales of new homes in the United States fell unexpectedly in March, but the decline was limited to the Midwest, suggesting the housing market recovery remains intact and in contrast to a broadly weak economy. The U.S. Department of Commerce reports new home sales fell 1.5 percent last month, the third consecutive month they have declined. New home sales fell to a seasonally-adjusted 511,000 units, short of the 520,000 predicted by economists. The report comes on the heels of last...

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