Financial Times FT.com

New US home sales rise by 9.6%

By Alan Rappeport in New York

Published: August 26 2009 14:19 | Last updated: August 26 2009 16:06

 A sold sign in front of a home in San FranciscoGetty

New US home sales surged last month at the fastest rate since 2005, the commerce department said on Wednesday, reinforcing the case that the stricken residential real estate market is staging a recovery.

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