Keeping you up to date on the latest data releases.
- New Home Sales
New single-family homes sold at an annual rate of 329,000 units in December, representing a 17.5 percent increase over November’s downwardly revised pace of 280,000 units and the strongest monthly increase since the early ’90's. Despite the large gain, new home sales are still down 7.6 percent on a year-ago basis. Additionally, most of December’s gain was attributable to activity in the West, as sales in other U.S. regions either increased or decreased by very small amounts. When the West is excluded, sales only increased 1.1 percent. The months’ supply of new single-family homes for sale dropped from 8.4 to 6.9 months at the current sales pace in December, as the inventory of homes for sale fell another 2.6 percent to 190,000 annual units, the lowest since 1968. Months’ supply has calmed down roughly to where it stood in April and is down from a record high of 12.1 months in January 2009. While December’s report was a positive one, overall, the big picture remains that sales are still near record lows, leaving vast room for improvement in 2011.