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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.