U.S. New Home Sales Spike Much More Than Expected In September

New home sales in the U.S. skyrocketed in the month of September, according to a report released by the Commerce Department on Tuesday. The report said new home sales soared by 14.0 percent to an annual rate of 800,000 in September after falling by 1.4 percent to a downwardly revised rate of 702,000 in August.

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