US New Home Sales Down 9.2%

Sales of new single-family houses in January of 2016 were at a seasonally adjusted annual rate of 494,000, down 9.2 percent from last month and well below market expectations. It is the lowest figure in three months as sales in the West fell the most in nearly six years.

Sales in the West plunged 32.1 percent and those in the Midwest went down 5.9 percent. In contrast, sales in the South (+1.8 percent) and the Northeast (+3.4 percent) increased. 

The median sales price of new houses sold in January decreased to $278,800 from $295,800 in December while the average sales price went up to $365,700 from $347,700.

The stock of new houses for sale at the end of January was 238,000 (233,000 in December). This represents a supply of 5.8 months at the current sales rate, higher than 5.1.

Year-on-year, new home sales shrank 5.2 percent in January.

US New Home Sales Down 9.2%

US Census Bureau | Joana Taborda |
2/24/2016 3:36:03 PM