Loading…
Saturday, December 27, 2014
Current Weather
Loading Current Weather....
Published: Thursday, 12/27/2012

U.S. new home sales jump to highest in 2 ½ years

US new home sales rise 4.4 pct last month, to highest level in 2 ½ years, as housing rebounds

ASSOCIATED PRESS

WASHINGTON — Americans bought new homes last month at the fastest pace in more than two and a half years, adding to other recent evidence that the housing market is steadily recovering.

The Commerce Department said today that sales of new homes rose 4.4 percent in November to a seasonally adjusted annual rate of 377,000. That's the strongest pace since April, 2010, when a homebuyer's tax credit boosted sales.

New home sales have increased 15.3 percent in the past year. Still, the improvement comes from depressed levels. Sales remain below the 700,000 that economists consider healthy.

Rising sales have kept the supply of available homes low, which pushes up prices. Only 149,000 new homes were for sale at the end of last month, just above a record low of 143,000 in August.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories