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Demand for new homes in the U.S. surged 4.3% in January as the housing market remains one of the strongest segments of the economy.
Last month’s increase pushed sales of new homes to an adjusted annual rate of 923,000, the Commerce Department reported Wednesday. That’s much stronger than the 855,000 economists were expecting. December’s new home sales figure was revised higher as well, from 842,000, to 885,000.
Read more about US home prices rise 10.1% in Dec, fastest since 2014 due to low rates on Business Standard. U.S. home prices surged at the fastest pace in nearly seven years in December, fueled by low mortgage rates and Americans moving from crowded urban areas to houses in the suburbs.The S and P CoreLogic Case-Shiller 20-city home price index, released