U.S. New Home Sales Rise in January

New single-family home sales in the United States increased in January, data showed on Wednesday.

This comes as the housing market in the U.S. continues to show strong activity, amid low mortgage rates and limited supply.

New home sales grew by 4.3% to a seasonally adjusted annual rate of 923,000 units last month, according to data by the U.S. Department of Commerce.

Meanwhile, the December reading was revised up to 885,000 units from a previous estimate of 842,000 units.