New Home Sales Rise 4.8%

New home rose 4.8% in September, after the Commerce Department revised previous months’ sales upward, Commerce said Thursday.

The increase to an annual rate of 770,000 came after August’s figures were revised down to 735,000, Commerce said.

The median price of a new home rose 5% from September 2006 to $238,000, 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.