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The U.S. Commerce Department released new home sales data on Thursday. New home sales increased 5.7% to a seasonally adjusted annual rate of 552,000 units in August from 522,000 units in July. July's figure was revised up from 507,000 units. It was the highest figure since February 2008.
Analysts had expected new home sales to reach 515,000 units.
The increase was driven by higher sales in the Northeast. New home sales in the Northeast climbed 24.1% in August.
This data points to a strong recovery in the U.S. housing market.
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