US Home Sales Eke Out Gain to Cap Disappointing Year on Rates
- December purchases rose 2.3% after November was revised down
- Contract signings fell to 644,000 in 2022, a four-year low
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Sales of new US homes rose for a third month in December, wrapping up an otherwise disappointing year in which soaring borrowing costs stifled demand and weighed on the economy.
Purchases of new single-family homes increased 2.3% to an annualized 616,000 pace after a downward revision to the prior month, government data showed Thursday. The median estimate in a Bloomberg survey of economists called for a 612,000 rate.