WASHINGTON -- In another sign of improvement in the housing market, new home sales increased 3.6% in July from the previous month, the government reported Thursday.
Sales of new single-family homes rose to a seasonally adjusted annual level of 372,000 units in July, matching a more than two-year high for total sales, the Census Bureau said.
The same number of new homes were sold in May before sales dipped to 359,000 in June. The last time more new homes were sold in the U.S. was in April 2010, when there were 422,000 sold, according to government data.
Economists had expected a smaller increase in July of about 365,000 sales. But a sharp rise in the Northeast offset slight declines in the South and West to boost the numbers.