New Home Sales Surged to Highest Level Since 2006

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Real Estate

Sales of new single-family homes increased markedly for the third month in a row, rising to their highest level since 2006.

Sales of new single-family houses rose 14% between June and July to a seasonally-adjusted annual rate of 901,000, the U.S. Census Bureau reported Tuesday. Compared with a year ago, new home sales were up 36%.

Economists polled by MarketWatch had expected a median pace of new home sales of 790,000. The government also revised June’s new home sales figure to a rate of 791,000, up from 776,000. The report’s small sample size has historically led to significant revisions.

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