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U.S. New-Home Sales Lower Than Forecast in October


Submitted by John on Thu, 2007-11-29 09:06.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a8jNuw9Dnk6Y&refer=home

A total of 728,000 new houses were purchased at annual rate, compared with a median forecast of 750,000 of economists surveyed by Bloomberg News. The figure was up from a revised 716,000 pace in September that was the lowest in almost 12 years, the Commerce Department reported today in Washington.

The median price of a new home dropped 13 percent, the most since 1970, to $217,800 in October from a year earlier.

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