January New Home Sales: +4.3% M/M to 923K vs. 855K expected and 855K prior (revised from 842K).

 

  • January New Home Sales: +4.3% M/M to 923K vs. 855K expected and 855K prior (revised from 842K).
  • New Home Sales (M/M) Jan: 4.3% (est 1.6%; prev 1.6%); 19.3% Y/Y



Big beat from Jan new home sales and three prior months all revised up. New home sales now up over 19% y/y. Data is below but biggest increase in MW (+12.6%) followed by W (6.8%) then S (3%). NE saw pullback of 13.9%. Y/Y S up huge 40%, MW 10% but W down 6% and NE almost 9%. Months supply ticked down further to 4.0 and average selling price also ticked up to $409K from $395K. But median price actually fell for the first time in several months to $346K from $353K.  



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