US: New Home Sales Rose in September for First Time in Five Months

New Home SalesSales of new U.S. homes rose in September after four straight monthly declines, largely because builders cut their prices.

The Commerce Department says sales rose 5.7 percent last month to a seasonally adjusted annual rate of 313,000 homes. Still, that’s less than half the 700,000 economists say must be sold to sustain a healthy housing market.

Sales in the West climbed 9.7 percent from August to September. But the level remained flat from September 2010.

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