The Traderszone Network

Published in TZ Latest News 24 March, 2015 by The TZ Newswire Staff

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

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 weaker income gains and higher property prices, braving a chillier-than-usual February to go out and buy a house last month. “It looks like the spring selling season is off to a good start,” said Stan Shipley, an economist at Evercore ISI in New York, whose projection for 485,000 sales was among the closest in the Bloomberg survey.