Steel Markets
February 26, 2015
New Home Sales Beat Economist Expectations
Written by Sandy Williams
Sales of new residential single-family homes declined just 0.2 percent in January to a seasonally adjusted annual rate of 481,000, according to estimates by the U.S. Census Bureau and Department of Housing and Urban Development. Sales were 0.2 percent below December’s revised rate but 5.3 percent higher than January 2014. The annual sales rate was higher than economist projections of around 470,000.
The December annual rate was revised upwards to 482,000 from 481,000, making it the strongest month since June 2008.
