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HomeNewsEconomyNew Home Sales in January 607K, December Revised Higher to 652K

New Home Sales in January 607K, December Revised Higher to 652K

Real Estate Market Going Up Concept Illustration. (Photo: AdobeStock)

New Home Sales, a Volatile New Residential Sales Report, Showed 4.1% Decline Year-Over-Year

Real Estate Market Going Up Concept Illustration. (Photo: AdobeStock)
Real Estate Market Going Up Concept Illustration. (Photo: AdobeStock)

New home sales in the U.S. came in slightly below the consensus at a seasonally adjusted annual rate of 607,000, but December was revised higher to 652,000.

The consensus forecast was 612,000, with forecasts ranging from a low of 590,000 to a high of 640,000.

While December soared, this number for January is a 6.9% decline from the prior month and 4.1% below the January 2018 estimate of 633,000.

Sales Price

The median sales price of new houses sold in January 2019 was $317,200. The average sales price was $373,100.

For Sale Inventory and Months’ Supply

The seasonally‐adjusted estimate of new houses for sale at the end of January was 336,000. This represents a supply of 6.6 months at the current sales rate.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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