WASHINGTON (Reuters) – Sales of new U.S. single-family homes increased strongly in December, boosted by declining mortgage rates and a persistent shortage of previously owned houses on the market.

New home sales rebounded 8.0% to a seasonally adjusted annual rate of 664,000 units last month, the Commerce Department’s Census Bureau said on Thursday. November’s sales pace was revised higher to 615,000 units from the previously reported 590,000 units.

Economists polled by Reuters had forecast new home sales, which account for about 15% of U.S. home sales, rising to a rate of 645,000 units. New home sales are counted at the signing of a contract, making them a leading indicator of the housing market.

To continue reading the rest of the article, please click on the source link below:

https://finance.yahoo.com/news/us-home-sales-rebound-december-160233192.html