U.S. New Home Sales Ticked Up Faster Than Forecast in December

By Joshua Kirby

Sales 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. The level for November was revised up to 615,000.

--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.

Write to Joshua Kirby at [e-mail]; @joshualeokirby

(END) Dow Jones Newswires

01-25-24 1023ET