QUICK LINKS:

US sales of new homes up in January

Created: 02/26/2014 12:28 PM WHEC.com
By: Associated Press

U.S. sales of new homes rebounded in January to the fastest pace in more than five years, offering hopes that housing could be regaining momentum after a slowdown last year caused by rising interest rates.

The Commerce Department says sales of new homes increased 9.6 percent in January to a seasonally adjusted annual rate of 468,000. That was the fastest pace since July 2008.

It came as a surprise to economists who had been forecasting a sales drop in January, in part because of a belief that activity would be held back by bad winter storms in many parts of the country.

Sales had fallen 3.8 percent in December and 1.8 percent in November, leading to worries that the housing recovery could be losing momentum.



News10NBC/WHEC-TV welcomes your opinion and interaction on our website, but please remember to keep it clean. If you're advertising for another business, being profane, vulgar or slanderous your post will be deleted. By commenting on this website, you agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use. Comments are not pre-screened before they posted.



Rochester

Overcast
27°
40° | 20°
  • Feels like: 19° F
  • Wind: SSW 7mph
  • Humidity: 63%
  • Sun Chance of showers
    50° | 33°
  • Mon Mostly cloudy
    35° | 35°
  • Tue Plenty of sun
    32° | 16°
  • Wed Rain and snow showers
    42° | 28°