New homes sales soar in July to highest level since 2006

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Sales of new single-family houses rose 14% between June and July to a seasonally-adjusted annual rate of 901,000, the U.S. Census Bureau reported Tuesday. The pace of sales was the highest since 2006. Compared with a year ago, new home sales were up 36%. It is the latest indication that the housing sector is leading the economic recovery from the coronavirus pandemic.
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