Home sales jump to highest level since April of 2010

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November turned out to be a great month for new home sales. They jumped to the highest level in more than two years.

The government reports sales increased 4.-4 percent compared to October. It’s the strongest pace of new home sales since April of 2010.

The increase is due to a combination of near record low mortgage rates, lower unemployment numbers and a drop in foreclosures. All those factors lifted home prices.

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