Steel Markets
February 26, 2018
New Home Sales Soften for Second Month in January
Written by Sandy Williams
Sales of new single-family homes dropped in January to a seasonally adjusted annual rate of 593,000, according to the latest Department of Commerce data. January sales were 7.8 percent below December and 1 percent below the January 2017 rate. During the last three months, the average sales rate was 644,000.
The median sales price was $323,000 and the average sales price $382,000. Inventory at the end of January was estimated at 301,000 units, a supply of 6.1 months at the current sales rate.
