facebook
twitter
search
search

Home sales rose modestly in January

Feb. 26, 2014 at 10:23 AM
| License Photo

WASHINGTON, Feb. 26 (UPI) -- Sales of new single-family homes rose sharply in January, climbing 9.6 percent above December's revised rate, the U.S. Commerce Department said Wednesday.

At a seasonally adjusted annual rate of 468,000, sales for the month surpassed December's 427,000 mark coming in 2.2 percent above the January 2013 total of 458,000.

Sales rose despite the freezing temperatures in January that slowed the economy in various sectors, including retail and manufacturing.

The Commerce Department said the median price for a new home sold in January was $260,100 with an average price of $322,800.

At the end of January, there were an estimated 184,000 new homes on the market, representing a 4.7 month supply at the current rate of sales.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules
Aetna to acquire Humana for $37 billion in cash, stocks