US New Home Sales Beat Expectations

Sales of new single-family houses were recorded at a seasonally adjusted annual rate of 481,000 in January, much better than market forecasts. Although sales edged down 0.2 percent from a revised 482,000 in December, supply increased to its highest since 2010.

The median sales price of new houses sold in January 2015 was $294,300; the average sales price was $348,300. The seasonally adjusted estimate of new houses for sale at the end of January was 218,000. This represents a supply of 5.4 months at the current sales rate.

Sales in the Northeast slumped 51.6 percent and those in the West dropped 0.8 percent. In contrast, sales in the Midwest rose 19.2 percent and those in the South went up 2.2 percent. 

Year-on-year, new home sales rose 5.3 percent in January.

US New Home Sales Beat Expectations

U.S. Census Bureau | Joana Taborda |
2/25/2015 3:15:31 PM