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April 24, 2015

New-home sales collapse in March

By JOSH BOAK
AP Economics Writer

WASHINGTON — Sales of new U.S. homes plummeted in March, as the spring buying season opened with sharp declines in the Northeast and South.

The Commerce Department said Thursday that new-home sales fell 11.4 percent last month to a seasonally adjusted annual rate of 481,000. This marks a swift reversal from an annual sales pace of 543,000 in February, which had been the strongest performance in seven years.


 
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