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New Home Sales Reach Post-Recession High

Sales of newly built, single-family homes rose 16.6 percent in April from an upwardly revised March reading to a seasonally adjusted annual rate of 619,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the highest sales pace since January 2008.

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Construction Spending: Healthy Gains Year-Over-Year

The U.S. Census Bureau of the Department of Commerce announced that construction spending during April 2016 was estimated at a seasonally adjusted annual rate of $1,133.9 billion, 1.8 percent (±1.3 percent) below the revised March estimate of $1,155.1 billion. The April figure is 4.5 percent (±1.6 percent) above the April 2015 estimate of $1,085.0 billion.

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Supreme Court Rules Against EPA

The U.S. Supreme Court ruled unanimously on May 31, that a landowner can appeal a determination from the Army Corps of Engineers that a water body is subject to federal jurisdiction and permit requirements under the Clean Water Act through the federal court system.

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