July New Home Sales Rise 9.6%

New home sales rose 9.6% in July, on the heels of a big jump in June, the Commerce Department said Wednesday.

Sales grew to an annual rate of 433,000 units, the most since February 2005, Commerce said. June’s pace of 395,000, an 11% rise, had been the highest in 10 months.

Economists had forecast the July rate to rise to 390,000 units, Bloomberg reported.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.

New home sales account for about 15% of residential real estate sales.