Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-02-26T15:17:47.000Z

U.S. January New Home Sales - Trend showing little direction

byDave Sloan

Senior Economist , North America
-

January new home sales at 661k are up 1.5% to follow December’s 7.2% increase though the two straight gains did not fully erase the two straight declines that preceded them, and the data is on the low side of expectations.

Several surveys of housing sector demand, such as the NAHB and MBA surveys, have picked up significantly in an apparent response to lower mortgage rates at the end of 2024. Existing home sales picked up in January too. However the response from new home sales has been modest and with mortgage rates having recently risen the trend in new home sales looks set to remain without any clear direction.

January sales increased in all regions except the south after the South fully explained the December increase, so the January rise, while smaller than December’s, is broader based.

The median price saw a moderate 1.8% rise on the month which lifted yr/yr data to -2.6% from -13.8% as a sharp January 2023 fall dropped out.

The average price saw an erratic-looking 8.3% monthly bounce, moving yr/yr growth significantly positive at 7.8% from -13.2% in December. The median price probably better illustrates the underlying picture.

Continue to read the article for free
Login

or

or

Topics
Data
Foreign Exchange

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image