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August 27, 2008

New-home sales rose 2.4% in July

By JEANNINE AVERSA
AP Economics Writer

AP Photo/Craig Ruttle [enlarge]
Patrick MacCarthy walks in front of his new house in Rye, N.Y. Sales of new homes posted an unexpected gain in July as heavily discounted properties enticed cautious house hunters to become buyers.

WASHINGTON — Sales of new homes rose in July, but still fell short of economists' expectations, and home prices continued to sink.


 
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