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Sales of New Homes in U.S. Rebounded in February on Jump in West

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Purchases of new homes climbed in February for the fourth time in the last five months as demand snapped back in the western U.S.

Sales increased 2 percent to a 512,000 annualized pace following a 502,000 rate in January that was stronger than previously reported, Commerce Department figures showed Wednesday. Demand is in line with last year’s pace, indicating residential construction will remain a source of support for the economy.