Monday, February 27, 2012

New home sales exceed expectations

By Chris Isidore @CNNMoney February 24, 2012: 11:55 AM ET
New home sales showed improvement in the latest government report.New home sales showed improvement in the latest government report.
NEW YORK (CNNMoney) -- New home sales exceeded forecasts in the latest government readings Friday, another sign of a long-awaited recovery in the battered housing market.
The Census Bureau reported that the pace of new home sales hit a seasonally-adjusted annual rate of 321,000 in January, up from the previous reading for December and better than economists' forecasts. Census also revised the December figure higher to a rate of 324,000, meaning that the pace of sales was about 6% stronger that month than the original estimate.

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