US New Home Sales Rise Less Than Expected
Sales of new single-family houses in the United States went up 3.7 percent to a seasonally adjusted annual rate of 555,000 in January of 2017. It follows a downwardly revised 535,000 in the previous month, but lower than market expectations of 570,000.
Sales rose in the Northeast (15.8 percent to 44 thousand), the Midwest (14.8 percent to 70 thousand) and the South (4.3 percent to 290 thousand) but fell 4.4 percent in the West (to 151 thousand).
The median sales price of new houses sold was $312,900 down from $316,200 in the previous month but up from $291,100 a year earlier. The average sales price was down to $360,900 from $378,900 in December and $365,600 a year earlier.
The stock of new houses for sale increased 3.5 percent to 265 thousand. This represents a supply of 5.7 months at the current sales rate.
Year-on-year, new home sales rose 5.5 percent.
2/24/2017 3:20:21 PM