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US new-home sales fell in July, yet still ahead of last year

Sales of new U.S. homes plummeted 9.4 percent in July, the sharpest one-month drop in nearly a year. But the decline followed strong sales in previous months, and sales so far this year are outpacing last year's. The Commerce Department said August 23 that new-home sales fell to a seasonally adjusted annual rate of 571,000 in ...

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