U.S. New Home Sales Unexpectedly Jump 1.5% In August

A report released by the Commerce Department on Friday showed an unexpected increase in U.S. new home sales in the month of August. The Commerce Department said new home sales jumped by 1.5 percent to an annual rate of 740,000 in August after spiking by 6.4 percent to an upwardly revised rate of 729,000 in July.

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