After reporting a steep drop in new home sales in the U.S. in the previous month, the Commerce Department released a report on Wednesday showing new home sales rebounded by much more than expected in the month of September.
The Commerce Department said new home sales soared by 12.3 percent to an annual rate of 759,000 in September after plunging by 8.2 percent to a revised rate of 676,000 in August.
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