Sales of new single-family homes rose last month but still much ground to reclaim to get back to 2008 levels.
The numbers, however, topped the performance forecast by many economists.
The Commerce Department reported Wednesday that builders sold 433,000 newly constructed homes in July, 9.6 percent more than June’s revised rate of 395,000. The sales volume is 13.4 percent below where it was in July 2008.
One other positive sign from the report was the number of new homes on the market, which fell to 271,000 nationally, from 280,000 in June, the lowest reading going back to March 1993, according to Mike Larson, a Weiss Research analyst.
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