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The Census Bureau's New Residential Construction report shows new home sales at a seasonally adjusted annualized rate or 673,000.

New Home Sales by Region

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New home sales are down in everywhere but the tiny North-East region. However, sales are up year-over-year except for the North-East.

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Lower interest rates have helped housing.

Yet, sales are about at 1963 level of 663,000.

Mike "Mish" Shedlock