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New-home sales dip after 4 straight monthly gains

Published 02/24/2012, AP Real Estate Writer

Sales of new homes dipped in January but the final quarter of 2011 was stronger than first estimated. The Commerce Department said today that new-home sales fell 0.9 percent last month to a seasonally adjusted annual rate of 321,000 homes. That followed four straight months of gains in which home sales rose 10 percent.

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