“This is convincing evidence that the economy continues to expand,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ in New York. “It takes a lot of confidence to buy the biggest of big ticket items consumers ever face, buying a new home.”
New home sales increased in all four regions. They hit a six-year high in the Midwest and were the highest since June 2008 in the South.
(Continue reading on Reuters: Consumer confidence, housing data bolster U.S. growth outlook