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New home sales up in October

New home sales are on the rise. The U.S. government said sales went up 4.4 percent in October.

That is the highest increase in more than two years.

Economists say the increase is due to a combination of near record low mortgate rates and drops in unemployment and foreclosures.

It is another sign that the housing market is slowly recovering.

Existing home sales and home construction rates are also up.

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