New Home Sales Rise to Seven-Month High

New home sales rose 1.6% in November to a seven-month high, the Commerce Department reported.

Sales rose to an annual rate of 315,000, matching economists’ median forecast, Bloomberg reported.

Sales were led by a 12.9% jump in the South and a 7.5% gain in the Midwest.

New home sales account for about 15% of residential real estate sales. 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.