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    New Home Sales Plummet in July

    Written by Sandy Williams


    New home sales plummeted 13.4 percent to an annualized pace of 394,000 in July, well below Junes’ initially reported 497,000 and the revised pace of 455,000.  Economists expected sales to decrease in July to an annualized pace of 490,000, based on the initially reported June figure.

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