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  • Belfair Sewer System – 20 Year Payoff Plan

    Neatherlin RandyCommission Neatherlin proposes a solution to pay off the notorious Belfair Sewer System, a system estimated to go broke by 2017 under the current financing assumptions. At Tuesday's briefing session, Commissioner Neatherlin with the aid of Budget Director Frank Pinter presented a recommended solution utilizing REET 1 & 2 Funds,… Read More +

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  • Inslee Proposes Cap On Carbon Pollution

    insleeJan14sosWashington Gov. Jay Inslee has proposed a cap-and-trade program that would require industrial polluters to pay for every ton of carbon they release. The Democrat outlined the program on Wednesday as part of a broader package to help the state reduce greenhouse gas emissions. Inslee says the plan would raise nearly $1… Read More +

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  • Mariners Acquire Justin Ruggiano

    RuggianoRHP Matt Brazis sent to Cubs in trade. RHP Logan Bawcom designated for assignment.SEATTLE, Wash. – Seattle Mariners Executive Vice President & General Manager of Baseball Operations Jack Zduriencik announced today the club has acquired outfielder Justin Ruggiano from the Chicago Cubs in exchange for minor league relief pitcher Matt Brazis. Ruggiano, 32, played 81 games with the Chicago Cubs last season,

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Sales of New Homes Jump to Highest Level in Five Years

b_250_0_16777215_00_images_obgrabber_2013-07_f99f333bb5.jpgiStockphoto/Thinkstock(WASHINGTON) -- The number of new homes sold in June brought sales to the highest level since May 2008. Sales of new single-family houses last month increased to a seasonally adjusted annual rate of 497,000, the most in five years, a report from the U.S. Commerce Department said. David Crowe, chief economist of the National Association of Home Builders, says 900,000 home sales a month would be consistent with a "healthy" market, but the surge is encouraging.

 

“We're still a long way off from anything you might call normal,” he added.

“It's indicative of home buyers feeling more confident about their purchases,” Crowe said. “House prices have been increasing, interest rates -- while they went up a little -- are still a very good bargain, and so this waiting period is finally over for a larger number of people.”

The price of new homes sold has also moved up compared to a year ago.  The median price is now $249,700 compared to $232,600 a year ago.

New homes make up a small chunk of the housing market but have an important ripple effect on the economy.

Copyright 2013 ABC News Radio

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