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US new-home sales rise to match 2-year high

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WASHINGTON (AP) — Sales of new homes in the United States rose 3.6 percent in July to match a two-year high reached in May, the latest sign of a steady recovery in the housing market.

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The Commerce Department said Thursday that new-home sales reached a seasonally adjusted annual rate of 372,000. That's the same as in May, which was the highest since April 2010.

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