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U.S. New Home Sales Fall Unexpectedly in August

Published 09/26/2017, 10:02 AM
Updated 09/26/2017, 10:02 AM
© Reuters.  U.S. new home sales fall unexpectedly in August

Investing.com - Sales of new U.S. single-family homes unexpectedly fell for a second straight month in August, adding to concerns over a slowdown in the recovery in the housing market.

The Commerce Department reported that new home sales declined 3.4% to a seasonally adjusted annual rate of 560,000 units last month.

Economists had expected new home sales to increase by 3.3% to an annual rate of 588,000.

Figures for July were revised up slightly to show sales of 580,000 units from the previously reported 571,000 units.

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