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Lower prices boost new home sales; outlook downbeat

New home construction in California

Workers construct a single family home at a Lennar housing development in San Diego on March 11.

 Mike Blake/reuters

WASHINGTON � Sales of new single-family homes surged to more than a three-year high in April as builders lowered prices to attract buyers, but rising mortgage rates and economic uncertainty remained headwinds for the housing market.

Data for February and March was revised significantly down, taking some of the shine from the unexpected increase in sales last month reported by the Commerce Department on Friday.



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