US New Home Sales Fall for 3rd Month


Sales of new single-family houses in the United States shrank 0.6 percent month-over-month to a seasonally adjusted annual rate of 618 thousand in February of 2018 from an upwardly revised 622 thousand in January. It is the lowest reading in four months and compares with market forecasts of a 4.4 percent rise to 623 thousand. Sales fell in the West and the Midwest.

Sales fell in the West (-17.6 percent to 164 thousand) and the Midwest (-3.7 percent to 79 thousand) but rose in the South (9 percent to 338 thousand) and the Northeast (19.4 percent to 37 thousand). 

The median sales price of new houses sold was $326,800, above $298,000 a year earlier. The average sales price was $376,700, also higher than $370,500 in February of 2017.

The stock of new houses for sale went up 2 percent from the previous month to 305 thousand, the highest level since March of 2009. This represents a supply of 5.9 months at the current sales rate.

Year-on-year, new home sales edged up 0.5 percent. 

US New Home Sales Fall for 3rd Month


US Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
3/23/2018 2:13:17 PM