New Home Sales Rise 5.5% in November

New home sales rose 5.5% in November, the Commerce Department said Thursday.

Sales grew at an annual rate of 290,000 units, up from 275,000 reached in May.

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

Sales rose in two of four national regions, led by a 37% jump in the West. Purchases fell 27% 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.