U.S. new home sales jump more than expected in January

Market news

26 February 2013

U.S. new home sales jump more than expected in January

New home sales in the U.S. showed a substantial rebound in the month of January, according to a report released by the Commerce Department on Tuesday, with sales coming in well above economist estimates.

The Commerce Department said new home sales surged up by 15.6 percent to a seasonally adjusted annual rate of 437,000 in January from the revised December rate of 378,000.

Economists had been expecting new home sales to show a more modest increase to an annual rate of 381,000 from the 369,000 originally reported for the previous month.

The price of gold has increased significantly

U.S.: New Home Sales, January 437 (forecast 381)

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