Home Sales Unexpectedly Rise in Recent Reports

Two independent reports showed increases in the sales of existing and new homes in recent months.

The Commerce Department said that new home sales rose 3.4% to an annual rate of 1.15 million in August. The increase follows a 2.9% decline in new home sales in the previous month.

Sales of existing single-family homes rose 5.5% to an annual rate of 6.47 million, the National Association of Realtors said in their report Thursday.

Bloomberg News said economists had expected declines in both reports.

Rising home sales can be a boost to certain segments of the trucking industry, like movers, or home goods delivery firms as new homeowners move into their houses or purchase new appliances for their homes.

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