US New Home Sales Unexpectedly Fall 7% Two Months In A Row

Warning bells from the housing market with US January new home sales coming in at 593K, much lower than 648K expected from 643K last month (revised up from 625k). In percentage terms sales were -7.8% an expected +3.6% rise.

Warning bells from the housing market with US January new home sales coming in at 593K, much lower than 648K expected from 643K last month (revised up from 625k). In percentage terms sales were -7.8% an expected +3.6% rise.

US Single New Home Sales

New home sales data for January 2018

  • New home sales 593K v expected 648K, Prior was 643K (revised from 625k)
  • New home sales -7.8% an expected +3.6% rise. Prior -7.6% (revised from -9.3%)

Median sale price $323K vs $315.2K a year ago (+2.5%)

  • Northeast -33.3%,
  • Midwest +15.4%,
  • South -14.2%,
  • West +1.0%

Supply 6.1 months vs 5.5 months prior

Two months in a row is a comcern but one does have to factor in the exteme cold in Northeast over that period. Interest rates have also been on the up and in the bigger picture sales remain at a healthy level. We also saw a revision higher 18k from prior month.

Source: Comemrce Department, Marketwatch

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