U.S. New-Home Sales Unexpectedly Rise to Highest in a Decade
Homes under construction are seen at the D.R. Horton Express Homes Magma Ranch housing development in Florence, Arizona, U.S., on Thursday, Nov. 16, 2017.
Photographer: Caitlin O'Hara/BloombergThis article is for subscribers only.
U.S. purchases of new homes unexpectedly advanced in broad fashion last month, reaching the strongest pace in a decade and offering an encouraging signal for residential construction, according to government data released Monday.
The report showed the U.S. South region continued to recover from a pair of hurricanes. Purchases in other areas of the country, including a 17.9 percent surge in the Midwest, also climbed.