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April 24, 2014

Sales of new homes plunge 14.5%

  • It was the second straight monthly decline and the slowest pace since July 2013.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — The number of Americans buying new homes plummeted in March to the slowest pace in eight months, a sign that real estate's spring buying season is off to a weak start.

    The Commerce Department said Wednesday that sales of new homes declined 14.5 percent last month to a seasonally adjusted annual rate of 384,000. That was the second straight monthly decline and the lowest rate since July 2013.


     
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