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Sales of New U.S. Homes Fall for a Third Month on Slump in West

  • Purchases slump in western states to slowest since July 2014
  • Median price eases from year ago as more properties for sale
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U.S. New Home Sales Fall 1.5% on Western Slump

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Purchases of new homes in the U.S. unexpectedly declined in March for a third month, reflecting the weakest pace of demand in the West since July 2014.

Total sales decreased 1.5 percent to a 511,000 annualized pace, a Commerce Department report showed Monday. The median forecast in a Bloomberg survey was for a gain to 520,000. In western states, demand slumped 23.6 percent.