Economics
U.S. New-Home Sales Rise to Cap Best Three Months Since 2007
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Sales of new U.S. homes increased in November, capping the best three months for demand since 2007 and reflecting sustained momentum in a residential real estate market that’s helping to underpin the economy.
Single-family home sales rose 1.3% to a 719,000 annualized pace from a downwardly revised October, government data showed Monday. In the three months through November, purchases averaged a 720,000 pace, the strongest in 12 years. An index of U.S. homebuilder stocks pared losses following the report.