U.S. sales of new homes jumped by 4.8% in December to a seasonally adjusted annual rate of 1.12 million, the highest level since April, the Commerce Department reported Friday writes MarketWatch.
Warm weather at the end of last year, along with low interest rates and aggressive discounting by builders, boosted sales far beyond the 1.07 million rate that economists surveyed by MarketWatch had expected. By region, sales gains were strongest in areas that enjoyed unseasonably warm temperatures. Sales rose 27% in both the Northeast and the Midwest, while sales were flat in the South and fell 4% in the West.
Read it all here: Housing Rebounding