U.S. New-Home Sales Surged in November

Despite the month-to-month increase, sales of new homes were down 7.7% compared to a year earlier, suggesting a bumpy market

Josh Mitchell

Jan. 31, 2019 10:14 a.m. ET

WASHINGTON—Sales of newly built homes soared in November.

New-home sales rose 16.9% from a month earlier to a seasonally adjusted annual rate of 657,000, the Commerce Department said Thursday.

Economists surveyed by The Wall Street Journal had expected new-home sales to reach an annual rate of 571,000.

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