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US new-home sales preview
The Commerce Department reports on sales of new homes in September. The report will be released Friday at 10 a.m. Eastern. SALES DOWN: Economists forecast that sales of new homes tumbled 7.1 percent last month to a seasonally adjusted annual rate of 468,000, according to a survey by the data firm FactSet. That would mark a sharp reversal from August, when sales climbed 18 percent to an annual pace of 504,000. Much of August's increase came from new homes being purchased in the West, gains that are unlikely to be repeated in September. HOUSING BUST LINGERS: Housing has struggled fully rebound since the recession, even ... (full story)