Real Estate

US new-home sales rise in sign of housing market health

Americans bought more new homes in January after a steep fall-off the previous month, a sign the housing market is healthy despite higher mortgage rates.

New home sales rose 3.7 percent to a seasonally-adjusted 555,000, the Commerce Department said Friday. That is 5.5 percent higher than a year ago.

Solid job gains and some signs of rising wages have driven up consumer confidence, which has also risen since the presidential election. More confident consumers are more likely to buy homes. Sales of existing homes jumped to their highest level in a decade, according to data released earlier this week.

The solid sales have occurred despite, or perhaps because of, a jump...

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