New home sales edged a little further out of a lengthy slump in January, topping 600,000 units for the second straight month. The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed single-family homes were at a seasonally adjusted annual level of 670,000. This was up 7.2 percent from December’s rate of 625,000 units and the best performance since last March. Sales remained 19.4 percent below the annualized total of 831,000 in January 2022. [newhomesall] Analysts polled by Econoday had projected sales at 617,000. Trading Economics was slightly higher at 620,000 units. On an unadjusted basis, there were 59,000 homes sold during the month. The December total was 47,000. New home sales in 2002 totaled 641,000. The year end figure for 2021 was 771,000. At the end if January there were an estimated 439,000 single-family homes available for sale, projected at a 7.9 month supply at the current sales pace. This is down from an 8.7 month supply i n December but 39 percent higher than the 5,7 month inventory a year earlier, Homes sold during the month at a median price of $427,500 and an average of $474,400. The sales prices in January 2022 were $430,500 and $501,200, respectively. The South was responsible for all of the month’s sales gains. The region posted a 17.1 percent increase from December’s sales while remaining 2.2 percent below the prior January level. Sales in the Northeast fell 19.4 percent and 13.8 percent below the two earlier periods.
Related Articles
ICE Mortgage Technology is betting on increased sales for 2023
February 3, 2023
Mariel Alumit
Housing Wire, Top News
Comments Off on ICE Mortgage Technology is betting on increased sales for 2023
Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The silver lining for the […]
I’m an ex-cat burglar — here’s how I broke into 200 homes, stole $7M
April 10, 2024
Mariel Alumit
New York Post
Comments Off on I’m an ex-cat burglar — here’s how I broke into 200 homes, stole $7M
In an unprecedented exposé on the “Locked In With Ian Bick” podcast, Jennifer Gomez lifted the veil on her astonishing career as a cat burglar, divulging intricate details behind her spree of more than 200 home break-ins […]
Home prices are likely to fall in these markets
October 4, 2023
Mariel Alumit
Housing Wire
Comments Off on Home prices are likely to fall in these markets
U.S. home prices posted their biggest annual price increase since February 2023, reaching a 3.7% price gain in August, according to CoreLogic’s August 2023 Home Price Index. While home prices ticked up 0.3% month-over-month and forecasters […]