US surge in new home sales

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Data for existing home sales may have taken a hit in August south of the border, but the same isn’t so for new homes. Figures released yesterday show an 18 per cent surge in new home sales in August, rising to their highest level for more than 6 years. July’s figures were also revised from a 2.4 per cent drop to a 1.9 per cent gain. The biggest increase in sales was in the western states, with a 50 per cent increase. Read the full story.

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