New home sales for January 2020. Highest level since July 2007
Big beat in the New home sales for January new home sales in the US.
- New home sales 764K versus 718K estimate
- prior month revised higher to 708 versus 694K previously reported
- The gain is at 7.9% versus 3.5% estimate. Prior month up 2.3% versus -0.4% initially reported
- Northeast 44K versus 42K
- Midwest 99K versus 76K last month
- South 369K versus 386K last month
- West 252K versus 204K last month
- month supply 5.1 months versus 5.5 months
- median price $348,200 versus $324,100 +7.4%
- mean price $402,300 versus $373,300. +11.4%
- the sales paces the highest since July 2007
big jumps in the median and mean prices as well.
Existing home sales which accounts for an over 90% of the US home sales came in at 5.46M versus 5.44M estimate on Friday. The median and average selling prices were less on a month-to-month basis. For that report click here.
