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| Home sales rise 3.4 percent in November  The U.S. Commerce Department reported that sales of newly built, single-family homes rose 3.4 percent to a seasonally adjusted annual rate of 1.05 million units in November. Sales also were revised upward for the three previous months. The latest number is up from October's 1.01 million units and well above the recent low of 979,000 units that was recorded in July. The inventory of new homes for sale fell for the fourth consecutive month in November to 545,000 units, which is equivalent to a 6.3-month supply at the current sales pace. This is the lowest inventory level since February and the lowest month's supply since May.write your comments about the article :: © 2006 Construction News :: home page |