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Monday, July 27, 2009

US Home sales rise

Sales of new homes in the United States posted their largest monthly gain in nearly eight years in June, the government reported on Monday, a sign that the housing market is bottoming as buyers take advantage of lower prices.

The Commerce Department reported that new single-family home sales rose 11 percent in June, an increase that dwarfed economists’ expectations of a 3 percent increase. The pace of home sales rose to a seasonally adjusted rate of 384,000 a year, the highest level since November.

As sales rose, median prices of new homes continued to fall, slipping to $206,200 from $232,100 in June a year ago.

It is good for US home industry. In this year home industry in very bad position.
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