New-home sales in U.S. climb to almost one-year high

By: Bloomberg News September 28, 2009

Sales of new U.S. homes climbed in August to the highest level in almost a year as builders cut prices at a record pace to compete with the foreclosures that are flooding the market for previously owned houses. Sales increased 0.7 percent to a 429,000 annual pace, less than anticipated, figures from the Commerce Department showed ...

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New-home sales in U.S. climb to almost one-year high

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