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New-home sales dip 0.3% in October

Posted: November 29, 2012 at 3:22 a.m.

A construction worker finishes a roof in Chicago in October. The Commerce Department said Wednesday that new-home sales dipped 0.3 percent during the month.

U.S. sales of new homes fell slightly in October, and September sales were slower than initially thought. The October sales pace was dragged lower by steep declines on the East Coast, partly related to Hurricane Sandy. The Commerce Department said Wednesday that new-home sales dipped 0.3 percent in October to a seasonally adjusted annual rate of 368,000. That’s down marginally from the 369,000 pace in September, which was revised lower from an initially reported 389,000.

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Business, Pages 27 on 11/29/2012

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