USA News Today | Daily Us NewsPaper
Sunday, July 6, 2025
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech
USA News Today | Daily Us NewsPaper
No Result
View All Result
Home Business

U.S. New Home Sales Extend Rebound But Increase Less Than Expected

February 26, 2024
in Business
U.S. New Home Sales Extend Rebound But Increase Less Than Expected


The Commerce Department released a report on Monday showing a continued rebound in new home sales in the U.S. in the month of January, although the increase fell short of economist estimates.

The report said new home sales climbed 1.5 percent to an annual rate of 661,000 in January after surging by 7.3 percent to a revised rate of 651,000 in December.

With the increase, new home sales continued to regain ground after hitting their lowest level in a year in November.

However, economists had expected new home sales to jump by 2.4 percent to a rate of 680,000 from the 664,000 originally reported for the previous month.

The extended rebound in new home sales came as new home sales in the Northeast skyrocketed by 72.0 percent to a rate of 43,000, and new home sales in the West soared by 38.7 percent to a rate of 190,000.

New home sales in the Midwest also spiked by 7.7 percent to a rate of 70,000, but new home sales in the South plummeted by 15.6 percent to a rate of 358,000.

The Commerce Department also said the median sales price of new houses sold in January was $420,700, up 1.8 percent from $413,100 in December but down 2.6 percent from $432,100 a year ago.

The estimate of new houses for sale at the end of January was 456,000, which represents 8.3 months of supply at the current sales rate. The months of supply is unchanged from December but up from 8.1 months in January of 2023.

Last Thursday, the National Association of Realtors released a separate report showing a significant rebound in existing home sales in the U.S. in the month of January.

NAR said existing home sales jumped by 3.1 percent to an annual rate of 4.00 million in January after falling by 0.8 percent to a revised rate of 3.88 million in December.

Economists had expected existing home sales to surge by 5.0 percent to a rate of 3.97 million from the 3.78 million originally reported for the previous month.

Copyright © 2024, RTTNews.com, Inc. All Rights Reserved.

Tags: Breaking NewsEconomic NewsForex Top StoryFront Page NewsGeneral NewsTop story

Related Posts

U.S. Consumer Sentiment Tumbles To Six-Month Low In May

by USA News Editor
May 13, 2024
0

A report released by the University of Michigan on Friday showed a substantial deterioration in U.S. consumer sentiment in the...

U.S. Service Sector Activity Contracts For First Time Since December 2022

by USA News Editor
May 3, 2024
0

After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a...

U.S. Job Growth Falls Short Of Estimates In April, Unemployment Rate Ticks Higher

by USA News Editor
May 3, 2024
0

After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday...

U.S. Factory Orders Surge In Line With Estimates In March

by USA News Editor
May 2, 2024
0

New orders for U.S. manufactured goods surged in line with economist estimates in the month of March, according to a...

U.S. Labor Productivity Increases Modestly In Q1, Labor Costs Spike

by USA News Editor
May 2, 2024
0

A report released by the Labor Department on Thursday showed labor productivity in the U.S. increased by less than expected...

U.S. Trade Deficit Narrows Slightly To $69.4 Billion In March

by USA News Editor
May 2, 2024
0

The U.S. trade deficit edged slightly lower in the month of March, according to a report released by the Commerce...

Advertisement

Today Trend USA News

Train Share New Single 'Long Yellow Dress'

1 year ago
Ariana Grande Reveals Full 'Eternal Sunshine' Tracklist

Ariana Grande Reveals Full 'Eternal Sunshine' Tracklist

1 year ago

Bill Banning TikTok To Put 300000 American Jobs At Risk: TikTok CEO

1 year ago

Eric Church To Headline Sugar Bowl Country Kickoff Show

1 year ago
Instagram's Creator Marketplace Expanding To 8 More Countries

Instagram's Creator Marketplace Expanding To 8 More Countries

1 year ago

Alabama Reveal Lineup For June Jam XVIII

1 year ago

Popular News Today

  • Study Reveals Surge Of Antidepressants Usage Among Girls During Pandemic

    0 shares
    Share 0 Tweet 0
  • About
  • Contact Form
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2024 USANEWS.ONE

No Result
View All Result
  • Politics
  • Headlines
  • Local news
  • Business
  • Science
  • Lifestyle
  • Tech

© 2024 USANEWS.ONE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously