By Joshua KirbySales of new single-family homes in the U.S. rose more than expected in December, according to Commerce Department figures set out Thursday. Here are the main takeaways:--New home sales increased by 8.0% from a month earlier, reaching a seasonally adjusted rate of 664,000. --Sales had been expected to rise a little less rapidly to 649,000, according to economists polled by The Wall Street Journal. --Sales were 4.4% higher than the same month a year earlier, adjusted for seasonal shifts. --The estimate of new houses for sale at the end of the year was 453,000, representing a supply of 8.2 months at the current sales rate.

Source: Wall Street Journal January 25, 2024 16:06 UTC