Real Estate Roundup: New Home Sales Pace Strong as Year Begins

Home Selling at Fastest Pace

Recent news of interest to homebuyers, home sellers, and the home-curious includes a report revealing that new homes sold at their fastest pace in almost six years in January. Also, California teachers are finding it increasingly tough to afford a home in the state, particularly in the Bay Area.

Citing data collected by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, the National Association of Home Builders reports that 468,000 new homes sold in January, a 9.6 percent spike from the previous month.

New home sales were by far the most robust in the Northeast, where they shot up nearly 74 percent. In western states, they rose 11 percent in January.

According to NAHB Chief Economist David Crowe, the jump in sales is likely due to a combination of low interest rates, affordable prices, and an improving economy.

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