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U.S. New Home Sales At 321,000 In January, Higher Than Expected

Sales of new homes in the U.S. came in at a higher than expected level in January according to figures released Friday by the Commerce Department.

The seasonally adjusted annual rate of 321,000 of new single-family home sales for January was notably higher than the 315,000 predicted by most economists.

However it actually represents a slight, 0.9 percent, drop from the revised December rate of 324,000.

The December sales rate was, however, revised significantly upward from the 307,000 sales rate initially reported, and marks the highest level of new home sales since December 2010.

by RTT Staff Writer

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