New home sales rose in January after brief dip in mortgage rates ...Middle East

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New home sales rose in January after brief dip in mortgage rates
New home sales rose to their highest level in nearly 10 months in January led partly by builder incentives and softer mortgage rates.   Sales of new single-family homes increased by 7.2 percent last month to a seasonally adjusted annual rate of 670,000, according to Census Bureau data released on Friday. Yet the number is well below the revised estimate from the same month a year ago when it stood at 831,000.  “Many home builders are offering incentives to buyers, sweetening the deal just enough to bump sales from the month prior,” Zillow senior economist Nicole Bachaud said in a statement. "Mortgage rates ticked down across January opening the door to some buyers who had been

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