New Home Sales Climb 11%

New home sales increased 11% in June, the largest increase in eight years, the Commerce Department said Monday.

Sales grew to an annual rate of 384,000 units, from a revised 346,000 in May, Commerce said.

Economists had forecast the rate to rise to 352,000 units, 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.