Keeping you up to date on the latest data releases.
- New Home Sales
In January, sales of new single-family homes slowed to a seasonally adjusted annual rate of 284,000, representing a 12.6 percent decrease over the month and a 18.6 percent decrease over the year. January’s decline represents the ninth straight month of slowing home sales, on an annual basis. The South and West were responsible for the monthly decrease, as they registered declines large enough to offset moderate increases in sales in the Northeast and Midwest. At the same time, the median sales price ticked down slightly from December’s level, but it is up 5.68 percent since January 2010. The number of single-family homes for sale at the end of January stood at 187,000, essentially unchanged from December’s level, representing a 7.9 months’ supply at the current sales pace. During the recession, the supply of homes on the market peaked at a 12.1 months’ supply. While the supply has been somewhat depleted, it still stands at about double its pre-recession norm of a 3 to 4 months’ supply.