Sales of New U.S. Homes Hover Near a Two-Year High
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Purchases of new U.S. homes in August held close to a two-year high, further evidence of recovery in the housing market that will help sustain the economic expansion.
Sales fell 0.3 percent to a 373,000 annual pace following a revised 374,000 rate in July that was higher than previously estimated and the strongest since April 2010, figures from the Commerce Department showed today in Washington. The median estimate of 71 economists surveyed by Bloomberg forecast a rise to 380,000.