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US new home sales rise 1.5% in January

By Iain Gilbert

Date: Monday 26 Feb 2024

US new home sales rise 1.5% in January

(Sharecast News) - New home sales rose 1.5% month-on-month in January, according to the Census Bureau, hitting a seasonally adjusted annualised rate of 661,000 and falling short of market expectations for a reading of 680,000.
However, last month's reading still marked a second consecutive monthly increase in sales, in line with mortgage rates dropping during the first month of 2024.

Sales soared in the Northeast and the West, while growth was at a slower pace in the Midwest and sales slumped in the South. The median price of new houses sold came to $420,700, while the average sales price was $534,400.

Reporting by Iain Gilbert at

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