US new home sales jump

26 February, 2021 12:00 AM printer

WASHINGTON: New home sales surged again in January, according to government data Wednesday which showed the US housing market boom continues, making it one of a few sectors that have strengthened amid the pandemic, report agencies.

Despite the sales increase prices dipped last month, but strong demand driven by historically low mortgage lending rates is keeping prices higher and the supply of available homes below the pre-pandemic levels, the data showed.