1 February 2001, 09:21  US home sales soar 13.4% in December to highest rate in 2 years

Washington--Jan. 31--Despite a slowdown in other parts of the U.S. economy, sales of new single-family U.S. homes soared 13.4% in December to a seasonally adjusted annual rate of 975,000 units, well above analysts' median expectation for a pace of 890,000 units. That marks the highest sales rate since November 1998, when sales hit 995,000. It also the sharpest rise for sales since April 1993, due in part to a significant downward revision to November single-family home sales.

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