Market update: new home sales rise 9.6% in January

  • February 26, 2014

Sales of new single-family homes showed a 9.6% increase in January, posting the highest numbers since July 2008. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“January’s jump in new home sales was a surprise to many, as forecasters predicted this number to slump again this month.  It’s possible the polar vortex turned into a data vortex as we all try to make sense of the numbers, including tight inventory numbers which may continue to support price gains.”

If you would like to talk to someone at Quicken Loans about today’s report or anything in the mortgage market, please contact us.

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