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New contemporary attached residential homes for sale by Beazer Homes USA Inc. in Vista, Calif. Mike Blake/Reuters
Mortgage rates remain stubbornly high, but that didn’t stop 800,000 Americans from buying new homes in August.
New residential sales spiked by a seasonally adjusted 20.5 percent from July and were up 15.4 percent year over year, the Census Bureau and Department of Housing and Urban Development reported on Sept. 24.
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