New home sales fell 7% in December

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The median new house price fell 7.2 percent to $318,600 in December from a year ago. There were 344,000 new homes on the market in December, the most since December 2008 and up 3.0 percent from.

The National Association of Realtors Pending home sales index fell 4.7% to 104.6 in January from a downwardly revised 109.8 in December 2017, the group said Wednesday. After last month’s retreat.

According to their analysis, new home sales reversed course from November, moving forward 3.7% in December. In fact, sales of new single-family houses increased to 621,000. Although this is up from November’s revised rate of 599,000, December’s sales still fell 2.4% below the previous year’s level.

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Between October and December each year, starter home inventory in the US gets a 7% boost, according to new data from Trulia.. Though starter home listings begin to increase and reach a peak during the fall, buyers.

Sales fell by 2.7 percent in December from the previous month on a seasonally adjusted basis, according to the Commerce Department. Economists had predicted a 1.2 percent sales decline for.

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New home sales in the South, which account for the majority of transactions, increased by 5.0% seven months in December. Sales increased 1.4 percent in the West and increased 44.8 percent in the North-East. But they fell 15.3% in the Midwest to the lowest level since April 2016. The average house price fell 7.2% to $ 318,600 in December a year ago.

In a delayed report because of the month-long U.S. government shutdown, the U.S. Commerce Department said that new home sales increased 3.7% in December, to a seasonally adjusted annualized rate of 621,000 homes. According to consensus forecasts, economists were expecting to see a modest drop to 597,000 units.

The median sales price of a new home fell 2.7% from a year ago to $308,000. Still, there are signs that sales could recover. Sales of existing homes – which are the bulk of the market – rebounded in May.

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