Sales of newly built single-family home sales increased 14.5 percent to 501,000 units in 2015, the highest level since 2007, according to the National Association of Home Builders.
Meanwhile, sales in December increased 10.8 percent to a seasonally adjusted annual rate of 544,000 from a rate of 449,000 in November, according to the U.S. Census Bureau.
"The December sales report is a great end to a very strong year," said Ed Brady, NAHB chairman, in a statement. "As we move forward in 2016, we should see the housing market continue to make lasting gains."
Regionally, the Midwest, West, Northeast and South posted gains of 31.6 percent, 21 percent, 20.8 percent and 0.4 percent, respectively.
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