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HOMZ - New Home Sales Rose In August On Gains In The South And West
Hoya Capital Housing
By Robert Hughes
Sales of new single-family homes jumped 7.1 percent in August to a 713,000 seasonally adjusted annual rate. Sales are up 18.0 percent from a year ago but remain below the peaks of prior expansions (see chart). Sales rose in two of the four regions tallied: they surged 16.5 percent in the West, putting sales 17.9 percent above year-ago levels; and they were up 6.0 percent in the South - the largest region by sales volume - and were 24.9 percent above the year-ago level.