Sales of new homes in U.S. post sharpest gain in 9 years

07/28/2009 | Bloomberg

Signaling that the U.S. housing market has stabilized, new-home sales reached an annualized rate of 384,000 last month, an 11% increase from May and the biggest jump since 2000, the Commerce Department said. Economists at Goldman Sachs and Deutsche Bank said the data indicate an end to slumping residential construction and sales.

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