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New-home sales decline in January to three-month low

New home sales in the midwest slipped in June to a seasonally-adjusted annual rate of 56,000 homes, a decline of 11.1 percent from the month before when sales were at a rate of 63,000 homes, according to a report just released by the U.S. Commerce Department.

WASHINGTON (Reuters) – Sales of new homes sank to a record low. for a new home plunged 13.9 percent last month to $202,100, the lowest since December 2003. Compared with February last year, the.

Sales in January fell to a three-month low. "More builders are saying that lower price points are selling well, and this was reflected in the government’s new home sales report released last week,".

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Sales of new homes in January fell to the weakest pace since October, driven by a decline in the Midwest as still-elevated prices keep buyers on the sidelines. single-family home sales fell from the prior month to a 607,000 annualized pace, according to a government report Thursday that was delayed two weeks by the partial government shutdown.

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Sales Price. The median sales price of new houses sold in June 2018 was $302,100. The average sales price was $363,300. For Sale Inventory and Months’ Supply. The seasonally-adjusted estimate of new houses for sale at the end of June was 301,000. This represents a supply of 5.7 months at the current sales rate.

Top-heavy housing market is crowding out the little guys

Buoyed by falling mortgage rates, builder confidence in the market for newly-built single-family homes rose two points to 58 in January on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). "The gradual decline in mortgage rates in recent weeks helped to sustain builder sentiment," said NAHB Chairman Randy Noel.

New home sales in San Diego County fell 20 percent in January from a year earlier, hitting an 11-year low, real estate tracker CoreLogic reported Wednesday.. said it’s possible that a decline.

More precisely, new home sales activity. its recent decline. This in turn should stimulate new homebuying activity and will also encourage builders to add to the currently low levels of inventory..

The value of sales from January to April fell. campaign to tame a debt boom. New-home sales in 54 cities during the May 1-3 Labor Day holiday dropped 47 percent from a year earlier to 236,000.