New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. This marks the second consecutive month of increases and the strongest sales pace since March 2022.

On a year-over-year basis, however, new home sales are still down 19.4%.

“January marked a surge of people signing contracts to buy new homes. The increase in contract signings can be attributed to a decline in details ⇒

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