Red-hot US housing market: January new home sales jump 4.3%

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New home sales figures for January show housing remains one of the strongest segments of the economy demand for new homes surged four point three percent in the U. S. this January according to the commerce department the annual adjusted rate nine hundred and twenty three thousand is stronger than economists were expecting sales of new homes are nineteen point three percent higher than they were last year at this time Robert Frank an economist with navy federal credit union says sales would've been higher if builders could build faster the median price of a new home sold in January was three hundred forty six thousand four hundred dollars persistent demand at low interest rates have pushed prices by percent higher from a year ago outpacing wage gains and the cost of labor and materials like lumber is also rising I'm Jennifer king

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