The Herald of Everett, Washington
Customer service  |  Subscribe   |   Log in or sign up   |   Advertising information   |   Contact us
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Maureen Bozlinski
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
mbozlinksi@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

New home sales surge in January

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Los Angeles Times
Published:
Sales of newly built homes rose unexpectedly last month, bucking a cooling trend in the housing recovery.
New homes sales rose 9.6 percent from December to a seasonally adjusted annual rate of 468,000, the U.S. Commerce Department said Wednesday. Sales are up 2.2 percent from a year earlier.
Economists had expected sales to fall last month, but instead they rose to the highest level since July 2008. The unexpected surge injects fresh optimism into a cooling housing market.
The figures follow a string of dour housing reports that indicated falling demand. Economists have blamed cold weather across much of the country, in addition to other factors. Higher mortgage rates and prices have priced many out of a market with too few homes for sale.
But January’s new home data may signal buyers can adjust to the new reality. December’s figures were also revised up from an annual rate of 414,000 to 427,000.
Sales rose from December in all regions except the Midwest, where they fell 17.2 percent. Sales surged 73.7 percent in the Northeast and rose 11.0 percent in the western U.S.
Story tags » Real Estate

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup