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US: Sales buoy hopes for housing market

Posted on 25 May 2011

Sales of new homes posted a 7.1% gain in April from March, raising expectations that the downturn in residential construction could be near a bottom. New homes sold in April at a seasonally adjusted annual rate of 323,000 units. That was an increase from March, but still down 23% from the sales pace of April 2010.
In February, new homes were selling at an annual pace of 278,000 units, tying the slowest rate since the Census Bureau began tracking the data in 1963, but sales have risen in the past two months……………………………………….Full Article: Source


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