New-home sales on the rise

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Real Estate

New-home sales picked up in September, but hefty downward revisions to sales in earlier months point to a market still struggling for momentum.

Sales ran at a seasonally adjusted annual rate of 593,000, the Commerce Department said Wednesday. That was 3.1% higher than August’s figures, which had originally been reported as 609,000. Sales in September were 29.8% higher compared to a year ago.