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New home sales up, U.S. housing recovery on track

Blog by Brad Herman | April 24th, 2013

Sales of new single-family homes rose in March, indicating the U.S. housing market recovery remains on track.

The Commerce Department said on Tuesday sales increased 1.5 percent to a seasonally adjusted annual rate of 417,000 units. Last month's rise followed a 7.6 percent drop in February.