02/27/2024

New Home Sales Increased in January

This happened despite elevated mortgage rates

New home sales ticked up in January, despite a twin burden imposed by elevated mortgage rates and expensive housing prices, according to U.S. Census data released on Monday.

Sales of new single-family homes rose 1.8 percent in January compared to the previous year, data showed. The survey found an estimated 661,000 homes were sold in January.

On a monthly basis, sales climbed 1.5 percent from December.

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