Data on new home sales in the United States, released by the U.S. Census Bureau on Monday, revealed that the monthly change in new home sales for December saw an increase of 3.6%, compared to a growth rate of 5.9% in November, which was revised to a 9.6% increase.
According to the data, new home sales in December reached 698,000 units, which was better than market expectations of approximately 669,000 units. In the previous month of November, new home sales had reached 664,000 units, which were later revised to 674,000 units.
It is noteworthy that new home sales measure the monthly change in the number of newly sold homes from previous months and serve as a leading indicator of the economy's health. New home sales have significant economic effects, as they influence the purchase of furniture and appliances, mortgage sales through financial institutions, and payments to brokers for completing these home transactions.
