December home sales surge to a 10-month high
Job gains, attractive mortgage rates help push new-home sales forward for a 4th straight year
Washington
PURCHASES of new homes in the US surged in December to the highest level in 10 months, closing out the best year for housing since 2007.
Sales jumped 10.8 per cent last month to a 544,000 annualised pace, a Commerce Department report showed on Wednesday. For all of 2015, purchases climbed 14.6 per cent to 501,000. Employment gains and attractive mortgage rates combined to push new-home sales forward for a fourth straight year. Sustained hiring and income growth would provide further impetus for the market, encouraging more construction and contributing to the economy.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons