Recently we posted about existing home sales being down in January and now new data from the U.S. government says new home sales are also experiencing a downward trend. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development recently reported that, once again, sales of new single-family houses in January were at a seasonally adjusted annual rate of 593k. This number is 7.8% below December’s revised rate and 1.0% below January 2017. The median sales price of new houses sold in January 2018 was $323k. The average sales price was $382,700. Inventory of new houses for sale at the end of January was 301k, representing a 6.1 month supply at that sales rate (edging up as well).
