Sales of New U.S. Homes Increase to Match Two-Year High

Sales of New U.S. Homes Increase to Match Two-Year High

By Shobhana Chandra - Aug 23, 2012

Purchases of new U.S. homes rose more than projected in July to match a two-year high, a sign the industry that helped trigger the recession is recovering. Sales climbed 3.6 percent to a 372,000 annual pace, following a 359,000 rate in June that was higher than previously estimated, figures from the Commerce Department showed today in Washington. Last month’s rate was the same as in May, which was the strongest since April 2010. The median forecast of 72 economists surveyed by Bloomberg called for a rise to 365,000.

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