New home sales lower but still solid

By NAHB Now

New home sales declined in January on rising interest rates but still posted a steady reading as demand remains strong.

Sales of newly built, single-family homes in January fell 4.5% to an 801,000 seasonally adjusted annual rate from a sharp upwardly revised reading in December, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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