Sales of New U.S. Homes Surged in August to Six-Year High
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New-home sales in the U.S. surged in August to the highest level in more than six years, a sign that the housing recovery is making progress.
Purchases of new houses jumped 18 percent to a 504,000 annualized pace, the strongest since May 2008 and surpassing the highest forecast in a Bloomberg survey of economists, Commerce Department figures showed today in Washington. The one-month increase was the biggest since January 1992.