New Home Sales Surge in January

Washington, DC, Feb. 26, 2013 -- New home sales in January rose to the highest level since July 2008, and had their biggest monthly gain since 1993, according to the Commerce Department.

Sales surged 15.6% to a 437,000 annual pace, following a 378,000 rate in December.

Economists forecase a 380,000 rate.

Demand rose in all four regions.

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