New Home Sales Rise in August by Largest Amount in 5 Months

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New Home Sales Rise in August by Largest Amount in 5 Months
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WASHINGTON (AP) -- Sales of new homes posted the biggest increase in five months in August, raising hopes that the steep slide in the housing industry may be leveling off.
Sales of new single-family homes increased by 4.1 percent last month to a seasonally adjusted annual rate of 1.05 million units, the Commerce Department reported Wednesday. It was the biggest increase since an 8 percent gain in March.