New US home sales soar to highest level in a decade

WASHINGTON — Sales of new U.S. homes jumped last month to the highest level since October 2007, a sign that Americans — unable to find existing homes — are turning to new construction. Damage from last month’s hurricanes may have also inflated the data. New home sales leapt 18.9 percent in September to a seasonally adjusted annual rate of 667,000, the most in a decade, the Commerce Department said Wednesday. Sales rose in all regions including the South, where they increased nearly 26 percent.

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Source: HeraldNet

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