New home sales rise as housing market slows.

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New Home Sales Rise as Housing Market Slows

In the latest look at the housing market, sales of new homes were up significantly in January for the fourth month in a row. Even as the broader housing market slows down, new home sales were up more than 7% last month from the month prior. Now, this all seems like good news for the market, but here's some context, because new homes sales are still down significantly from the same time a year ago, and data earlier this week showed that sales of previously owned homes were down as well. High mortgage rates are keeping buyers at bay, so builders are offering incentives to attract buyers. The rise in new home sales shows that maybe these offers are effective.