Purchases of new U.S. homes unexpectedly climbed in January to the highest level in more than five years, showing underlying strength in the industry even in the midst of unusually harsh weather. Sales increased 9.6 percent to a 468,000 annualized pace, exceeding the highest estimate of economists surveyed by Bloomberg and the most since July 2008, figures from the Commerce Department showed today in Washington. Demand improved in three of four regions. Home remodeling companies such as Mohawk Industries Inc. remain upbeat about the market’s prospects for 2014 as property values climb and the economy improves. ... (full story)