New home sales rise to the highest in 2 1/2 years

New home sales rise to the highest in 2 1/2 years

Posted on: Thursday, May 23, 2013 |

U.S. sales of new homes jumped last month to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy. The Commerce Department said Wednesday that new home sales rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000. That’s up from a rate of 368,000 in August and the highest rate since April 2010, when a federal homebuyer tax credit inflated sales.

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