New-home Sales Rise to 329,000 in December
Sales of new single-family homes rose almost 18% in December to the highest rate since last spring, but builders in 2010 still suffered through their worst year in modern times.
Palm Coast, FL – January 26, 2011 – WASHINGTON (MarketWatch) — Sales of new single-family homes rose almost 18% in December to the highest rate since last spring, but builders in 2010 still suffered through their worst year in modern times.
Sales jumped to an annual rate of 329,000 on a seasonally adjusted basis, with almost three-quarters taking place in the West, according to the Commerce Department. Economists polled by MarketWatch had forecast sale to rise to 299,000.
The market might have gotten a jolt from a tax credit in California that expired at year end, some economists say.
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