US new home sales jump nearly 17 percent in November

  • News Digest

Feb 2, 2019-

Sales of new US homes soared in November, defying higher mortgage rates. But they’re still below year-ago levels. The Commerce Department said on Thursday that new home sales jumped 16.9 percent in November from the previous month to a seasonally adjusted annual rate of 657,000. The report was delayed by the 35-day government shutdown. Despite the healthy gain, sales remained 7.7 percent below the pace from a year ago. The housing market stumbled badly at the end of the year as mortgage rates reached a seven-year high near 5 percent. Sales of existing homes plunged in December and were 3.1 percent lower in 2018. (AP)

Published: 02-02-2019 13:12

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