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New Home Sales Decline in March
New home sales fell 7.1% in March from a two-year high the previous month, the Commerce Department said.
Sales decreased to an annual rate of 328,000 following a revised 353,000 rate in February that was 40,000 higher than previously reported.
March’s rate was above economists’ median forecast of 319,000, Bloomberg reported.
New home sales account for about 15% of residential real estate sales.
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