The Commerce Department report showed US new home sales rose for the third straight month in row, increased by 1.6% to a seasonally adjusted annual rate of 315,000 from October.
Even as the pace of gain was smaller than 2.6% forecast by economists, investors took comfort in that housing data released in recent days have started to show stabilization, and given that the housing market is one of a major contributors to the economy, it could provide some support for the economic growth next year.
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