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New home sales in the month of November fell by less than economists had been expecting, according to a report released by the Department of Commerce on Tuesday, although sales remained down sharply year-over-year.
The report showed that new homes sales fell 2.9 percent to an annual rate of 407,000 in November from a revised October rate of 419,000. Economists had been expecting new home sales to fall by about 4.2 percent.
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