Housing
Commerce Department: New Home Sales Reach 47-Year Low
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The Commerce Department reports that new home sales reached a 47-year low in 2010 at 321,000.
According to the AP, the figure was “a drop of 14.4 percent from the 375,000 homes sold in 2009. It was the fifth consecutive year that sales have declined after hitting record highs for the five previous years when the housing market was booming.”
Douglas A. McIntyre
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