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U.S. New Home Sales Rise to Highest Level Since 2007

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The Wall Street Journal is reporting that sales of newly built homes rose in July to their highest level in nearly a decade, a sign of solid momentum in the U.S. housing market.

“New home sales soared again,” said Ralph McLaughlin, economist at real estate website Trulia. “This is a continued sign that demand for new homes remains solid in a low interest rate, low unemployment environment.”

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