US New-Home Sales Rebound in November After Storm-Stricken Month
- Sales increased 5.9% last month to 664,000 annualized pace
- Supply of homes for sale climbed to highest since end of 2007
Sales of new single-family homes increased 5.9% last month to a 664,000 annualized rate.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
New-home sales in the US rebounded last month as builders and consumers sealed deals that had been delayed by storms in the South, and buyers took advantage of heavy sales incentives.
Sales of new single-family homes increased 5.9% last month to a 664,000 annualized rate, according to government data issued Monday. That was in line with the median estimate of economists surveyed by Bloomberg, who expected 669,000.