The Commerce Department said that sales of newly built homes in the U.S. increased 1.3 percent in November from the prior month. As a lagging indicator of real estate market demand, new home sales are monitored carefully by investors.
New single-family houses sold at a seasonally adjusted annual rate of 719,000 last month, the Commerce Department said Monday (pdf). This represents a growth of 9.8 percent so far this year.
