Sales of new U.S. single-family homes rose to a six-year high in September, but a sharp downward revision to August’s sales pace indicated the housing recovery remains tentative.
The Commerce Department said on Friday that sales increased 0.2 percent to a seasonally adjusted annual rate of 467,000 units, the highest reading since July 2008. August’s sales rate was revised down to 466,000 units from 504,000 units.
Economists polled by Reuters had forecast new home sales at a 470,000-unit pace last month.
U.S. Treasury debt prices held on to gains after the data. U.S. stocks were slightly up, while the dollar edged down against the euro.
The housing sector index .HGX was down 0.78 percent. U.S. homebuilder PulteGroup Inc (PHM.N), which on Thursday reported a 4 percent rise in quarterly revenue from home sales, was trading more than 1 percent lower.
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