New-home sales unexpectedly jump to highest level since 2007

WASHINGTON – Sales of newly built, single-family homes rose 12.4% in July from a downwardly revised June reading to a seasonally adjusted annual rate of 654,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the highest reading in almost nine years.

New-home sales declined more than forecast in December U.S. purchases of new homes declined more than projected last month and were revised down in the prior period, showing the market returned to a less exuberant pace as the year drew to a close, according to government data thursday. single-family home sales fell 9.3 percent m/m, the most since Aug.

New home construction unexpectedly surged in April. 20.2% from March to an annualized level of more than 1.1 million, the Commerce Department said Tuesday. The level was the highest since November.

Home Sales hit 10-year high Despite Price, Inventory Problems Existing home sales unexpectedly jumped in January to continue a healthy run of recent gains.. That’s the highest level the economy.

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With the unexpected spike, new home sales reached their highest annual rate since hitting 712,000 in November of 2017. The report also showed new home sales in March were up by 3.0 percent compared to the same month a year ago, reflecting a notable turnaround from the revised 0.2 percent annual drop in February.

The Commerce Department said on Monday new home sales increased 6.2 percent to a seasonally adjusted annual rate of 685,000 units last month. That was the highest level since October 2007.

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