Sales of New U.S. Homes Unexpectedly Rise to Seven-Year High

(Bloomberg) — Purchases of new homes in the U.S. unexpectedly rose in February to a seven-year high as stronger job gains helped bolster industry activity amid severe weather.

Sales climbed 7.8 percent to a 539,000 annualized pace, the most since February 2008, Commerce Department data showed Tuesday in Washington. The reading exceeded even the most optimistic forecast of economists surveyed by Bloomberg.

Americans withstood…. read more on www.bloomberg.com.

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