US New Home Sales Fall Much More than Expected


Sales of new single-family houses in the United States slumped 6.9 percent from the previous month to a seasonally adjusted annual rate of 607 thousand in January of 2019, following an upwardly revised 652 thousand in December and worse than market expectations of 620 thousand. Sales declined in the South, the Midwest and the Northeast but rose in the West.

December's figure was revised to 652 thousand units from 621 thousand previously estimated.

New home sales went down in the South (-15.1 percent to 342 thousand), the Midwest (-28.6 percent to 50 thousand) and the Northeast (-11.4 percent to 31 thousand) but rose in the West (27.8 percent o 184 thousand). 

The median new house price fell to USD 317,200 in January from USD 319,100 in December and USD 329,600 a year ago. The average sales price dropped to USD 373,100 from USD 374,000 in December and USD 377,800 a year ago.

The stock of new houses for sale went down 1.5 percent to 336 thousand from 341 thousand in December. This represents a supply of 6.6 months at the current sales rate, down from 6.3 months in December.

Year-on-year, new home sales decreased 4.1 percent.

US New Home Sales Fall Much More than Expected


US Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
3/14/2019 2:18:01 PM