Low-interest rates and a lack of existing homes pushed new-homes sales to a new high, according to the US Census Bureau and Department of Housing and Urban Development
'Strong builder confidence and heavy buyer traffic point to further production gains in the near term,' said Chuck Fowke, chairman of the National Association of Home Builders
Sales of new single-family homes rose 13.8% year over year, according to data from the US Census Bureau and the Department of Housing and Urban Development Development
The average contract interest rate for 30-year, fixed-rate mortgages dropped to 3.45%, its lowest level since the Mortgage Bankers Association began its weekly survey
Despite rising prices and personal finance issues, the majority of Americans are optimistic about homeownership, according to NerdWallet's 2020 Home Buyer Report
Despite the drop, sales are up annually — 9.6% higher than in January 2019
Residential housing starts fell 3.6%, according to the US Census Bureau