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Updated: 2009-06-24
New-Home Sales Virtually Flat In May
Inventories of new homes continue to shrink
Regionally, the decline in
new-home sales was entirely focused on the South, where sales fell 8.5 percent
for the month. Meanwhile, sales of new homes gained 1.3 percent in the West and
posted double-digit gains of 28.6 percent and 18.6 percent in the Northeast and