On Friday, new home sales exceed projections in the latest government report, this is a sign that the beleaguered housing market is starting to recover. The Census Bureau reported that the pace of new homes sold in January was 321,000 which was higher than economists estimates and higher than the December numbers. Also, the supply of new homes for sale fell for the 11th straight month. The decline in supply has lead to a slight raise in home prices in which the median price was $600 higher in January than December.
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