RTTNews - While the Commerce Department released a report on Thursday showing a modest increase in new home sales in the month of April, the sales growth came amid a notable downward revision to the pace of sales in March.

The report showed that new homes sales edged up 0.3 percent to an annual rate of 352,000 in April from a revised 351,000 in March. Economists had expected sales to rise to 360,000 from the 356,000 originally reported for the previous month.

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