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Thursday, July 25, 2013

U.S. New Home Sales Jump to Highest Level in Five Years

According to a recent Commerce Department report, the housing recovery is strengthening as new home sales gain momentum across the country. In June, Americans swiped up new homes at the fastest pace in five years, with an overall rise of 38 percent in the past 12 months.
As quoted in the article, economist Jonathan Basile said in a note to his clients, "There's an awful lot of headroom for more gains in new-home sales once the job market recovers more fully."

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