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US new home sales jump nearly 17 per cent in November
WASHINGTON — Sales of new U.S. homes soared in November, defying higher mortgage rates. But they’re still below year-ago levels.
The Commerce Department said Thursday that new home sales jumped 16.9 per cent in November from the previous month to a seasonally adjusted annual rate of 657,000.
The report was delayed by the 35-day government shutdown. Despite the healthy gain, sales remained 7.7 per cent below the pace from a year ago.