U.S. New-Home Sales Surged in November to Highest Since 2007
This article is for subscribers only.
U.S. purchases of new homes unexpectedly surged in November to the highest level since before the last recession, indicating resilient demand, according to government data Friday.
The report showed that residential construction will increase in coming months and provide fuel for the economy. In another sign builders will stay busy, the number of properties sold in which construction hadn’t yet started increased almost 43 percent to 258,000 in November, the most since December 2006.