This morning’s U.S. Census Bureau report showed that new home sales in January fell 9.2% to a seasonally-adjusted annual rate of 494,000 units. Quicken Loans vice president Bill Banfield offers the following comments on the report:
“The unusually large drop in sales in the Western region masks what has directionally been a steady improvement in the sales of new homes since 2010. Sales momentum may build if the lower interest rates, which we’re currently experiencing, last through the spring buying season.”
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