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The U.S. Commerce Department released new home sales data on Monday. New home sales decreased 1.5% to a seasonally adjusted annual rate of 511,000 units in March from 519,000 units in February. February's figure was revised up from 512,000 units.
Analysts had expected new home sales to reach 519,000 units.
The decrease was mainly driven lower sales in the West region. New home sales in the West region plunged 23.6% in March.
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