February 26, 2024
Sales of New Homes Tick Up in January
By Aarthi Swaminathan | Realtor.com The numbers: Sales of newly built homes in the U.S. inched up in January, even as mortgage rates rose. U.S. new-home sales rose 1.5% to an annual rate of 661,000 in January, from a revised 651,000 in the prior month, the Commerce Department reported Monday. The number is seasonally adjusted and refers to how many homes would be built over an entire year if builders continued at the same pace every month. The pace fell short of expectations on Wall Street. Economists had forecast new-home sales to total 680,000 in January. Mortgage rates rose to a six-week high at the end of January, according to data from Freddie Mac, which might...
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