New Home Sales Rise in September

New home sales increased in September, the second month of growth in a row, the Commerce Department said Wednesday.

Sales grew at an annual rate of 307,000 units, still close to the record low of 282,000, reached in May.

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

Sales rose in three of four national regions, led by a 61% increase in the Midwest. Purchases fell 9.9% in the West.

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.