Richmond Times-Dispatch

Housing market bellwether

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Sales of newly built U.S. homes have been climbing this year after pausing in March and April due to coronaviru­s lockdowns.

Ultra-low mortgage rates and a dearth of resale properties for sale have helped drive demand. Sales pulled back in September to a seasonally adjusted annual rate of 959,000 units. Economists expect sales rebounded last month to a seasonally adjusted annual rate of 972,000. The Commerce Department delivers its October tally of new U.S. home sales today.

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