This is the fourth month in a row that new-home sales have grown — despite existing-home sales continuing their downward slide.
The numbers: U.S. new-home sales rose 7.2% to a seasonally adjusted rate of 670,000 in January, up from a revised 625,000 in the prior month, the Commerce Department reported Friday.
The January sales figure beat analyst estimates. Analysts polled by the Wall Street Journal had forecast new-home sales to come in at 620,000 in January.New-home sales rose a revised 7.2% to 625,000 in December, compared with the initial estimate of a 2.3% increase to 616,000.Key details: The median sales price of a new home sold in January was $427,500.
Regionally, the South led the U.S. in the number of new homes sold, with the figure surging by 17.1%.Big picture: As mortgage rates take off, home builders are offering incentives like mortgage-rate buydowns to entice buyers — and it’s working.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US home sales fell again in January; prices edged higherThe nation’s housing slump deepened in January as home sales fell for the 12th month in a row to the slowest pace in more than a dozen years.
Read more »
Hyundai Motor Almost Doubled Plug-In Car Sales In January 2023Last month, the combined wholesale shipments (closely related to production) of Hyundai and Genesis plug-in cars exceeded *20,700 (up 87% year-over-year).
Read more »
US: New Home Sales rise by 7.2% in January vs 2.5% expectedSales of new single‐family houses rose by 7.2% in January to a seasonally adjusted annual rate of 670,000, the data published jointly by the US Census
Read more »
First 2024 GMC Hummer EV SUV Is Allegedly Back Up For Sale After January Auction | CarscoopsThe First 2024 GMC Hummer EV SUV Is Allegedly Back Up For Sale After January Auction | Carscoops carscoops
Read more »
US: Chicago Fed National Activity Index improves to 0.23 in January vs. 0.03 expectedUS: Chicago Fed National Activity Index improves to 0.23 in January vs. 0.03 expected – by eren_fxstreet UnitedStates Macroeconomics EconomicIndicator
Read more »
Kia EV6 Wholesale Shipments Remain Stable In January 2023In January 2023, the all-electric Kia EV6 noted 6,919 wholesale sales (closely related to production), which is 8.5 percent more than a year ago.
Read more »