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Gain in Home Sales Allay Concern of More Weakness: Economy

Sales of new U.S. homes climbed in April for the first time in three months, allaying concerns of an extended setback in the residential real-estate market.

The 6.4 percent increase to a 433,000 annualized rate was the biggest in six months and followed a 6.9 percent March decline, Commerce Department data showed today in Washington. The advance was spurred by a surge in demand in the Midwest.