Sales of new U.S. homes unexpectedly rose in February after a downward revision to the prior month, suggesting the housing market is beginning to stabilize after a tumultuous year

New-home sales in the U.S. increased to an almost 13-year high in June, fueled by record-low borrowing costs and adding to evidence that residential real estate is a bright spot for the economy.

WASHINGTON — U.S. sales of new homes jumped 7.9% in January to the fastest pace in more than 12 years, a positive sign for economic growth.

U.S. new home sales jumped 7.1% in August, as low mortgage rates pull buyers into the housing market. The Commerce Department said Sept. 25 that new homes sales increased to a seasonally adjusted annual rate of 713,000, up from a revised 666,000 in July.

Sales of new U.S. homes fell in October to the weakest pace since March 2016 as rising borrowing costs and elevated prices keep buyers out of the market.