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Purchases of new homes in January climb to 5-year high

Sales rise 9.6% to 468,000 annualised pace, the highest since July 2008

[WASHINGTON] Purchases of new US homes unexpectedly climbed in January to the highest level in more than five years, showing underlying strength in the industry even in the midst of unusually harsh weather.

Sales increased 9.6 per cent to a 468,000 annualised pace and the most since July...

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