New-home sales unexpectedly spiked 9.6% in July following a 9.1% rise in June, another sign that the housing market could indeed be on the mend.

According to figures compiled by the U.S. Census Bureau, sales of new single-family homes rose to a seasonally adjusted annual rate of 433,000 in July, compared to a 395,000 rate in June. The June rate was revised upward by 11,000 sales.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.