U.S. new-home sales resume growth

09/25/2013 | Bloomberg

A 7.9% increase in U.S. new-home sales last month, coming off a 14.1% decline in July, reveals a housing market vulnerable to interest rate increases, analysts said. "The jump in mortgage costs is a significant factor in home purchase decisions, so the housing recovery will abate to some degree," said Russell Price, a senior economist at Ameriprise Financial.

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