Housing is not recovering

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New home sales collapse, erasing recent surge

Jul 24, 2014By

Sales of new single-family houses plummeted in June to an annualized rate of 406,000, at least 20% below most analyst estimates. It was the biggest miss for new home sales in a year, and brings new home sales down to a level not see since December 2012.

3d rendering of a row of luxury townhouses along a street

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