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June New Home Sales Up 11% Jul 28, 2009 |
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The Commerce Department said that new home sales in the U.S. increased 11% in June to a seasonally adjusted annual rate of 384,000, from an upwardly revised May rate of 346,000.
There were 281,000 new homes for sale at the end of June, down more than 4% from May. At the current sales pace, the report said that represents 8.8 months of supply — the lowest level since October 2007.