--- description: New home sales increased 9.6 percent in January title: New Home Sales Increased 9.6 Percent In January image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production --- * [World](/section/world/) ## World Update your preferences in [Account Settings](/account/preferences/) Close * [real estate](/tag/real-estate/) ## real estate Update your preferences in [Account Settings](/account/preferences/) Close # New Homes Selling At Fastest Rate Since July 2008 by [Sam Frizell](/author/sam-frizell/) ## Sam Frizell Update your preferences in [Account Settings](/account/preferences/) Close Feb 26, 2014 5:38 PM CUT by [Sam Frizell](/author/sam-frizell/) ## Sam Frizell Update your preferences in [Account Settings](/account/preferences/) Close Feb 26, 2014 5:38 PM CUT Sales of new homes in January reached their [fastest](http://bigstory.ap.org/article/us-sales-new-homes-january "undefined") pace since July 2008, reviving hopes of a sturdy recovery in the housing market after growth slowed at the end of last year. New home sales increased 9.6 percent in January to a seasonally-adjusted annual rate of 468,000, the Commerce Department reported Wednesday, easing concerns that rising interest rates were slowing house sales. Sales fell 3.8 percent in December and 1.8 percent in November. The annual rate is the highest since July 2008, when it hit 477,000 homes. Economists are forecasting sales of new and previously occupied homes to rise in 2014, reports the Associated Press, boosting job gains and improving the economy. The median home price in January was up 3.4 percent from a year ago to $260,000, and interest rates on a 300-year mortgage increased to 4.33 percent last week. Even while sales improved in January, cold winter weather [slowed](http://business.time.com/2014/02/19/housing-starts-slow-nationwide-weather/ "undefined") construction starts last month by 16 percent. \[[AP](http://bigstory.ap.org/article/us-sales-new-homes-january "undefined")\] ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/9882/british-soldier-lee-rigby-killer-adebolajo-sentenced-life/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/9882/british-soldier-lee-rigby-killer-adebolajo-sentenced-life/"},"headline":"New Homes Selling At Fastest Rate Since July 2008","datePublished":"2014-02-26T17:38:17.000Z","dateModified":"2026-02-21T06:29:34.549Z","description":"New home sales increased 9.6 percent in January","url":"https://time.com/9882/british-soldier-lee-rigby-killer-adebolajo-sentenced-life/","keywords":["real estate"],"thumbnailUrl":"","author":[{"@type":"Person","name":"Sam Frizell","jobTitle":null,"url":"https://time.com/author/sam-frizell/"}],"articleSection":"World","image":[],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/world/","name":"World"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/real-estate/","name":"real estate"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/9882/british-soldier-lee-rigby-killer-adebolajo-sentenced-life/","name":"New Homes Selling At Fastest Rate Since July 2008"}}]}] ```