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New Home Sales Rise in September

By
Real Estate Agent with Homesmart Elite

the Commerce Department reported Monday.

New home sales post unexpected increase as prices fall to lowest level in 4 years

Sales of new homes unexpectedly rose last month, as many homebuyers seized on builder discounts and rushed to take advantage of expiring down payment assistance programs and other incentives.

Economists had expected sales of new, single-family homes to drop from August levels, but instead they rose 2.7 percent in September to a seasonally adjusted annual rate of 464,000 homes,