While you were sleeping Housing market momentum

Wed, 26 Feb 2014

By Margreet Dietz Feb 27 (BusinessDesk) – Wall Street rose after a report showed an unexpected rise in US new home purchases in January, easing concern that the industry’s recovery was stalling. New homes sales soared 9.6 percent to a seasonally adjusted annual rate of 468,000 units in January, according to Commerce Department data. That marks the highest level since July 2008. So much for the impact of harsh winter weather. In further good news, December's sales were revised higher to a 427,000-unit pace, up from the previously reported 414...

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