Sales of new homes are surging in the U.S., far outpacing results for less expensive existing homes and creating an unusual disparity in the housing recovery.
The trend partly reflects the small inventory of previously owned homes, now at a 13-year low after investors picked over the long-depressed market. But the strong sales of new homes also show how the nation's home builders have mastered the art of selling, even to cash-poor buyers or those with spotty credit histories.
New-home sales jumped 28.9% in January from a year earlier to the highest annual sales pace in four years .... read more
Resource: Wall Street Journal: Updated February 26, 2013, 7:39 p.m. ET
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