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New home sales rise in September, prices fall

Posted on 27 October 2011

New U.S. single-family home sales rose at their fastest pace in five months in September, a government report showed on Wednesday, but sustained price declines indicated the housing market is far from recovery.
“Home sales rose slightly last month, but are still very depressed. There are no real signs of a turnaround for housing yet. Too many unsold existing homes are still on the market so builders are not building new homes,” says Gary Thayer, Chief Macro Strategist, Well Fargo………………………………………..Full Article: Source


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