New homes sales steady in January despite winter swoon in the Northeast, January has been a month full of negative housing data, but today’s, at least, was relatively good news.
Sales of new homes dipped a slight 0.2 percent to a 481,000 annualized pace in January, according to data released Wednesday by the Commerce Department. Economists had expected a bigger decline, to about a 470,000 pace. Even with the drop, it was the best January for new home sales since 2008, and the pace of sales remained near post-recession highs.
Sales varied drastically from region to region: While the South saw a 2.2 percent increase, sales in the winter-battered Northeast plunged 51.6 percent last month, hitting a low 15,0000 annual rate. Figures for November and December were also revised upward, to yearly paces of 446,000 and 482,000, respectively. More Read
Sales of new homes dipped a slight 0.2 percent to a 481,000 annualized pace in January, according to data released Wednesday by the Commerce Department. Economists had expected a bigger decline, to about a 470,000 pace. Even with the drop, it was the best January for new home sales since 2008, and the pace of sales remained near post-recession highs.
Sales varied drastically from region to region: While the South saw a 2.2 percent increase, sales in the winter-battered Northeast plunged 51.6 percent last month, hitting a low 15,0000 annual rate. Figures for November and December were also revised upward, to yearly paces of 446,000 and 482,000, respectively. More Read
