December New Home Sales Come In Much Better Than Expected At 329,000

luxury mansion

Photo: www.trulia.com

Headline: 329,000 annualized, a 17.5% month-over-month rise
Expectations: 300,000 annualized

Last month: 290,000 annualized

Analysis: Much better than expected, but still relatively low over the long-term. But it’s a significant month-over-month gain. 

It may be the result of a rise in mortgage rates in December, forcing otherwise unsure buyers into the market.

Check out 15 signs the U.S. housing market is headed for a complete and total collapse >

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