Key Points New home sales in the U.S. rose 3.6% in December to an annual rate of 698,000 units. Sales surged in the Northeast and West but declined in the South and Midwest. Elevated mortgage rates near 7% continue to pressure the housing market. To attract buyers, developers are focusing on smaller, more affordable homes. Sales of new single-family homes in the U.S. increased more than expected in December, signaling renewed momentum in the housing market despite challenges posed by...