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.