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U.S. New Home Sales Rebound Much More Than Expected In March

After reporting a sharp pullback in U.S. new home sales in the previous month, the Commerce Department released a report on Friday showing a substantial rebound in new home sales in the month of March. The report showed new home sales skyrocketed by 20.7 percent to an annual rate of 1.021 million in March after plunging by 16.2 percent to a revised rate of 846,000 in February.
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