WASHINGTON (Reuters) – Sales of new U.S. single-family homes increased more than expected in January, boosted by historically low mortgage rates and an acute shortage of previously owned

houses on the market.

New home sales rose 4.3% to a seasonally adjusted annual rate of 923,000 units last month, the Commerce Department said on Wednesday. December’s sales pace was revised higher to 885,000

units from the previously reported 842,000 units.