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Sales of New Homes in U.S. Climb 1.5% to 417,000 Rate
Purchases of new U.S. homes rose in March, capping the best quarter for the industry since 2008 and providing more evidence the housing recovery will be sustained. Sales of single-family properties climbed 1.5 percent last month to a 417,000 annual pace from a 411,000 rate in February, Commerce Department figures showed today in Washington. The median estimate of 76 economists surveyed by Bloomberg called for March sales to rise to 416,000. A dearth of existing properties is encouraging builders to undertake new projects that will keep fueling the economy. Mortgage rates close to record lows, higher home values and ... (full story)
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