Economics
U.S. New-Home Sales Rose in December for First Time Since July
- Full-year purchase tally climbed to strongest level since 2006
- Median sales price rose 8% from a year earlier to $355,900
Photographer: Bing Guan/Bloomberg
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U.S. new-home sales rose in December for the first time in five months, capping the best year since 2006 and signaling that record-low mortgage rates continue to drive demand for a sector that’s been a bright spot in the economy.
Purchases of new single-family houses increased 1.6% to an 842,000 annualized pace in December from a downwardly revised 829,000 rate in the prior month, government data showed Thursday. The median projection in a Bloomberg survey called for 870,000. The median price rose 8% from a year earlier to $355,900.