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US new home sales rise surprisingly strong 16.6% in May

June 23, 2020

Via: ABC News

WASHINGTON — Sales of new homes rose a surprisingly strong 16.6% in May with the reopening of major parts of the country potentially fueling activity in the housing market.

The Commerce Department reported Tuesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 676,000 last month.

That was a much better performance than expected. Many economists had forecast that sales would fall in May.

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