New Home Sales Jump to Highest Level This Year

June 26, 2006 11:30 AM, EDT

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ew home sales in May rose to their highest level this year, increasing 4.6% from April the Commerce Department said Monday.

The rise to a 1.234 million annual rate from a revised March rate of 1.18 million surpassed an expected decline to a 1.145 million pace, Bloomberg reported.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight that haul household appliances and furniture.

New home sales — which account for about 15% of residential real estate sales — rose in three of four national regions, declining only in the Northeast Commerce said.