According to the data published by the U.S. Census Bureau, new home sales in January declined by 6.9% on a monthly basis. This reading followed December’s 3.8% (revised from 3.7%) increase and came in worse than the market expectation for a fall of 0.9%.
Key takeaways from the press release
- Sales of new single”family houses in January 2019 were at a seasonally adjusted annual rate of 607,000.
- The median sales price of new houses sold in January 2019 was $317,200.
- The average sales price was $373,100.
- The seasonally”adjusted estimate of new houses for sale at the end of January was 336,000. This represents a supply of 6.6 months at the current sales rate.
Share
