New Home Sales Rebound in July

New home sales rose in July from a 17-year low the previous month, the Commerce Department said Wednesday.

Sales rose 2.4% to an annual pace of 515,000, from a revised 503,000 in June, Commerce said.

Economists forecast a level of 525,000, 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.