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U.S. new-home sale surge to highest level since 2008

By Bloomberg News

This article was originally published February 26, 2013 at 9:21 a.m. Updated February 26, 2013 at 11:10 a.m.

— U.S. new-home sales jumped in January from the previous month to the highest level since July 2008, a sign that the housing recovery is accelerating.

The Commerce Department said Tuesday that new-home sales rose nearly 16 percent in January to a seasonally adjusted annual rate of 437,000.

The percentage increase was the largest in nearly 20 years. December’s sales were revised higher to 378,000 from 369,000.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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llllllll says... February 26, 2013 at 12:43 p.m.

If I'm not mistaken housing starts were about 1.5 million a year before the botton fell out. The stats look good but the reality is not all that great. If we had kept on buildong that many homes for the indefinite future wouldn't we run out of room for them and buyers and money for the buyers to borrow. If the future of this country is dependent on an artifically induced housing boon for forever we have had it. Let's bring back the manufacturing base that has vbeen shipped overseas by greedy corporations that care only for the stockholders and screw everyone else. Am I bitter. Well just now and again.

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