File - A new home is seen for sale in Vienna, Virginia in this file photo taken March 27, 2014. REUTERS/Larry Downing
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New-home sales in the U.S. surged in August to the highest level in more than six years, a sign that the housing recovery is making progress.The median sale price of a new house climbed 8 percent from August 2013 to $275,600 .There were 203,000 new houses on the market at the end of August.Existing home sales dropped 1.8 percent to a 5.05 million annual pace last month after reaching a 10-month high of 5.14 million in July, the National Association of Realtors reported this week.Housing starts also slumped in August, falling 14.4 percent to a 956,000 annualized rate following July's revised 1.12 million pace, which was the strongest since November 2007, Commerce Department data showed.
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