Pursuits
Sales of New U.S. Homes Rise to Highest Level in Seven Years
U.S. New Home Sales Rise to Highest in 7 Years
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Purchases of new homes in the U.S. rose in May to the highest level in seven years, signaling the industry is gaining momentum heading toward the second half of the year.
Sales climbed 2.2 percent to a 546,000 annualized pace, exceeding all forecasts in a Bloomberg survey of economists and the most since February 2008, Commerce Department data showed Tuesday in Washington. Readings for February through April were revised up.