New-home sales unexpectedly jump to highest level since 2007

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That followed March’s sales pace of 723,000 units, which was the highest level since October 2007. April’s decline came after three straight monthly increases. economists polled by Reuters had forecast new home sales, which account for about 10% of housing market sales, would decrease 2.8% to a pace of 675,000 units in April.

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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Purchases of new homes in the U.S. surged in April to the highest level since the start of 2008. “We should caution, however, that the new-home sales data can be volatile and revisions are often.

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Sales of newly built US homes unexpectedly soared last month to the highest rate since 2007 in the latest sign of the strength of the housing market that has been bolstered by low mortgage rates.

U.S. New-Home Sales Unexpectedly Climb to Highest in a Decade – U.S. purchases of new homes unexpectedly advanced in broad fashion last month, reaching the strongest pace in a decade and offering an encouraging signal for residential construction, according to.

Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded and manufacturing activity hit its lowest level in almost a decade in May, suggesting a sharp.

With the unexpected increase, new home sales reached their highest annual rate since hitting 727,000 in October of 2007. The unexpected jump in new home sales was partly due to strength in the.

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