Sales of new homes in the US jumped in May, but…

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Sales of new single-family houses rose sharply in May, an encouraging sign for the housing market as it continues to be plagued by a lower-than-normal inventory of available homes. In its monthly.

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US housing starts jumped 12.3 percent from a month earlier to a seasonally adjusted annual rate of 1,364 thousand units in August 2019, the highest level since June 2007 likely supported by lower mortgage rates. Single-family homebuilding increased 4.4 percent and starts for the volatile multi-family housing segment soared 32.8 percent.

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WASHINGTON (AP) – Sales of new U.S. homes jumped 6.7 percent in May, with purchases in the South accounting for all of the monthly gains. The Commerce Department said Monday that new homes sold.

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