Sales of New Homes Highest in Almost Five Years

Washington, DC, June 25, 2013 -- Sales of new homes rose to the highest level in nearly five years in May, according to the Commerce Department.

Sales rose 2.1% in May to a seasonally adjusted rate of 476,000 new homes, the highest level since July 2008.

Economists were expecting sales of 462,000.

                                                                                                                                                                                                                                                                                                                                               
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