New Home Sales Fall 0.9% in January

Posted To: MND NewsWire

New home sales in January were at a seasonally adjusted annual rate of 321,000, a decrease of 0.9 percent from the upwardly revised December rate of 324,000. The December pace of new home sales was originally estimated at 307,000. Estimated sales in January were at a rate 3.5 percent higher than one year earlier when sales were running at 310,000 units. The U.S. Census Bureau and the Department of Housing and Urban Development released the numbers Friday. An estimated 22,000 new homes were sold during January. About half (10,000 homes) were completed when sold; the remaining 12,000 were equally divided between homes under construction and homes for which construction had not yet begun. These numbers have been virtually unchanged since November and are nearly identical to those in January 2011…(read more)

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