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New homes sales retreat in August from 9-year high

Tuesday, September 27, 2016 - 05:50

Of the 609,000 homes sold in August, an annualised 214,000 were awaiting the start of construction.


PURCHASES of new US homes dropped in August after surging a month earlier to the fastest pace since 2007, representing a pause in momentum within residential real estate.

Sales fell 7.6 per cent to a 609,000 annualised pace, from a revised 659,000 rate in the prior month

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