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"All of the housing numbers have looked a lot better recently"
- Mark Vitner, a senior economist at Wells Fargo Securities LLC
Sales of new U.S. homes advanced to a seven month high in November, according to the data published by the Census Bureau. The number of new houses sold rose 1.6 per cent to an annualized rate of 315 thousand from 310 thousand in October.
"All of the housing numbers have looked a lot better recently," said Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. "Things aren't getting any worse now and that's an improvement."
The Conference Board Inc., a research company, will announce its consumer confidence index on Tuesday. Economists expect the reading to increase to 58.5 in December from 56 the previous month.