New Home Sales Jump

By: Channel 6 News Email
By: Channel 6 News Email

New home sales rise in July and match a two-year high reached in May.

The Commerce Department says sales of new homes reached seasonally adjusted annual rate of 372,000 in July.

That's the same as in May...which was the highest since April 2010.

Over the past 12 months, new home sales have jumped 25 percent...but they remain well below the annual pace of 700,000 that economists consider to be healthy.

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