New-home sales declined more than forecast in December
Highlights of New-Home Sales (December) Single-family home sales fell 9.3% m/m, the most since Aug. 2016, to 625k annualized pace (est. 675k) after 689k rate (revised from 733k) Median sales price.
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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.
December’s sales pace was revised higher to 652,000 units from the previously reported 621,000 units. Economists polled by Reuters had forecast new home sales, which account for about 11 percent of housing market sales, slipping 0.6 percent to a pace of 620,000 units in January.
New-home sales declined more than forecast in December. The median sales price increased 2.6% year-over-year to $335,400. The supply of homes at the current sales rate rose to 5.7 months from 4.9 months; 295,000 new houses were on market at the end of December. Purchases totaled 608,000 in 2017, up from 561,000 a year earlier.
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The report by Florida Realtors shows that year-over-year sales of single-family homes declined by more than a third in the Panama City metro area during the last quarter of last year. Sales of townhouses and condos were down almost 30 percent in the last quarter.
New home sales in the U.S. lost steam in December but wrapped up a solid year in a segment of the housing market that has faced tight inventory and fast-rising prices..
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New home sales in January fell 0.9% to a 321,000 annual rate. That pace is down slightly from the 324,000 pace set in December. forecast results for the entire housing market, but buyers have opted.
Including sales not yet closed, an estimated 428,000 new homes were sold in 2013. This is 16.4% above the 368,000 new homes sold in 2012, according to the report. December’s decline. points out.
Single-family home sales declined by 9.3% month over month, the most since August 2016, to 625,000 on an annualized pace, according to government data released on Thursday, Jan. 25. U.S. new-home sales fell more than forecast in December