-
Sales of New U.S. Homes in January Were Slower Than Forecast
Purchases of new U.S. homes in January were slower than forecast, signaling an increase in mortgage rates may be giving some potential buyers pause. Sales climbed 3.7 percent to a 555,000 annualized pace, Commerce Department data showed Friday. The median forecast in a Bloomberg survey of economists called for a 571,000 rate. Purchases in the previous three months were revised lower. The figures indicate a more measured improvement in the housing market as buyers adjust to higher borrowing costs and prices. At the same time, steady income and job growth remain sources of support as the spring selling season ... (full story)