January purchases of new homes rose 7.2% to the highest level in 10 months as mortgage rates started to declined, according to Commerce Department data.
New single-family home purchases rose 7.2% to a seasonally adjusted annual rate of 670,000 units, the Commerce Department reported Friday. Economists surveyed by Refinitiv expected new home sales — which account for a small percentage of total sales — to rise just 0.6% last month.
New single-family home purchases rose 7.2% to a seasonally adjusted annual rate of 670,000 units, the Commerce Department reported Friday.
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