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New home sales spike in May (access required)

New single-family home sales have hit a six-year high. Sales of new homes surged 18.6 percent to a seasonally adjusted annual rate of 504,000, the U.S. Census Bureau said. It's the highest level since May 2008 and the biggest increase since January 1992. New home sales were 16.9 percent higher than the same time last year. The ...

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