New Home Sales Gain 18% in December

New home sales increased 18% in December, the Commerce Department said Wednesday.

Sales grew at an annual rate of 329,000 units. It was the largest percentage jump since 1992, Bloomberg said.

Economists had forecast the December rate to rise to 300,000 units, Bloomberg reported.

Sales rose in three of four national regions, led by a record 72% jump in the West. Purchases fell 5% in the Northeast.

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.