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September 27, 2016

New home sales drop 7.6% nationwide, but the West was up 8%

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON — Sales of new homes retreated in August, one month after surging to the highest level in nearly nine years. Activity fell in all regions of the country except the West.

New home sales dropped 7.6 percent last month to a seasonally adjusted annual rate of 609,000 units, the Commerce Department reported Monday. That followed a surge in sales in July when they jumped 13.8 percent to a rate of 659,000, the fastest pace since October 2007.


 
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