US: New home sales rose 5.2% in November

US new home sales increased 5.2% in November from a month earlier to a seasonally adjusted annual rate of 592,000 last month, the Commerce Department said Friday. This is the largest one-month increase and the highest level for sales since July.

Analysts had expected a smaller November gain to a sales rate of 575,000. On the 12 months to November, sales rose 16.5%.