Eye on the Economy: New Home Sales Bounce Back in January
Posted on NAHB web site.
The housing market and the broader economy shivered at the end of 2013 as weather-related factors held consumers back and generated production delays. These impacts should prove temporary and our forecast remains positive for housing and home building for the year to come. Indeed, reports from January suggest some improvement over disappointing December data.
New home sales in January, as estimated by the Census Bureau and HUD, were up 9.6% over the December pace, coming in at 468,000 seasonally adjusted annualized rate. This pace is 2.2% higher than the January 2013 measure. The month-supply measure of inventory fell to 4.7, with the count of new homes for sales standing at 184,000. Only 45,000 of those were completed, ready-to-occupy new homes.
No comments:
Post a Comment