New home sales surge in August to levels not seen in 14 years

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Sales of new single-family homes in August exceeded an annual rate of 1 million for the first time since 2006. New home sales occurred at a seasonally-adjusted, annual rate of 1.011 million, the Census Bureau reported Thursday. That represents a 4.8% increase from an upwardly-revised pace of 965,000 homes in July. Compared with last year, new home sales are up 43%.
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