U.S. New Home Sales Increased Sharply in December to Nine-Month High
By Xavier Fontdegloria
Purchases of new single-family houses in the U.S. increased in
December for the second consecutive month, signaling strong demand
for housing. Here are the main takeaways from the Commerce
Department's report released Wednesday:
--New home sales rose 11.9% in December on month to a seasonally
adjusted annual rate of 811,000, the highest reading since March
--Economists polled by The Wall Street Journal expected home
sales to rise 1.7% to a seasonally adjusted annual rate of
--New home sales in November were downwardly revised to 725,000
from an earlier estimate of 744,000.
--Sales were 14% below the same month a year earlier, when sales
stood at an adjusted annual rate of 943,000.
--Monthly new residential sales data is volatile and often
revised. Data for December came with a margin of error of 20.3
--The median price of a new home was $377,700 in December, down
significantly from $416,100 in November and the lowest level since
--The seasonally adjusted estimate of new houses for sale at the
end of December was 403,000. This represents a supply of six months
at the current sales rate.
Write to Xavier Fontdegloria at firstname.lastname@example.org
(END) Dow Jones Newswires
January 26, 2022 10:28 ET (15:28 GMT)
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