New Home Sales Rise Sharply in January, Inventory Slides

The U.S. Census Bureau this morning released data on new single-family home sales for January. Sales rose 15.6% month-over-month, to a seasonally adjusted annual rate of 437,000, from a revised December sales figure of 378,000. Economists had been expecting a seasonally adjusted annual rate of 381,000. The January rate is 28.9% above the rate for January 2012. At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million.  Read more...  http://247wallst.com/2013/02/26/new-home-sales-rise-sharply-in-january-inventory-slides/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall+St.%29