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July 27, 2016

New-home sales hit 8-year high in June

  • Sales surged by more than 10 percent in the West.
  • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — Americans bought new homes in June at the fastest pace in more than eight years, a sign that a solid job market and low mortgage rates are bolstering the U.S. housing market.

    The Commerce Department said Tuesday that new-home sales rose 3.5 percent last month to a seasonally adjusted rate of 592,000, the best level since February 2008. Purchases of new homes have climbed 10.1 percent year-to-date, despite volatile sales on a monthly basis.


     
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