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US new-home sales increased 4.9 per cent in February
WASHINGTON — Sales of new U.S. homes climbed 4.9 per cent in February, an indication that falling mortgage rates have given a boost to demand from buyers.
The Commerce Department said Friday that new homes sold at a seasonally adjusted annual rate of 667,000 in February, an increase from an upwardly revised 636,000 in January. New-home sales are running 2.8 per cent higher through the first two months of 2019 than during the same period last year.
This initial rebound in sales after a weak end to 2018 bodes well for the traditional Spring homebuying season that began this month. Recent gains suggest that the combination of a solid job market and rising wages has encouraged more people to upgrade to a newly built house.