New Home Sales Rise in August by Largest Amount in 5 Months

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New Home Sales Rise in August by Largest Amount in 5 Months
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WASHINGTON (AP) -- Sales of new homes posted the biggest increase in five months in August, raising hopes that the steep slide in the housing industry may be leveling off.
4 T2 {3 G6 o4 x' L$ WSales of new single-family homes increased by 4.1 percent last month to a seasonally adjusted annual rate of 1.05 million units, the Commerce Department reported Wednesday. It was the biggest increase since an 8 percent gain in March.