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September 27, 2021

New homes sales rise for second straight month

By MATT OTT
AP Business Writer

SILVER SPRING, Md. — Sales of new homes in the U.S. rose modestly in August as rising prices continue to sideline potential buyers.

Sales of new homes last month rose 1.5%, the Commerce Department reported Friday, reaching a seasonally adjusted annual rate of 740,000. That's more than economists had expected and follows an increase in July, which was revised upward to a seasonally adjusted rate of 729,000 houses. July's jump came after three consecutive declines in April, May and June as builders grappled with surging lumber prices and a shortage of workers.


 
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