New ºÚÁϳԹÏÍø Sales Gain 2.9% as ’05 Rate Sets Record
ew home sales rose again in December, capping a record year, the Commerce Department said Friday.
The 2.9% increase to a 1.269 million-homes annual rate followed a revised November level of 1.233 million, Commerce said.
The rate exceeded economists’ forecasts of a dip to 1.225 million from November’s originally reported rate of 1.245 million, Bloomberg reported.
New home sales rose in two of four regions, gaining 11% in the West and 23% in the Midwest, while falling 23% in the Northeast and 2.6% in the South.
ew home sales account for about 15% of U.S. residential real estate sales.
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