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Free Access**MNI: 5 Things We Learned From New Residential Sales Data>
By Holly Stokes and Sara Haire
WASHINGTON (MNI) - The following are the key points from the
December new residential sales data released Thursday by the
Commerce Department:
-December new home sales saw a 9.3% decrease to 625k SAAR, well
below the 679k expected. However, new home sales were up 14.1%
year-over-year on a seasonally adjusted basis, indicating new home sales
continue to trend higher. New homes sold on a year-over-year basis
unadjusted saw a rise of 10.3%.
-The median new home sales price rose 0.1% to $335,400, while the
average sales price rose to $398,900, making these both the highest on
record since the series start in January 1963
-Unable to keep up with November's outstanding growth, sales saw
declines in all regions. The South saw a 9.8% decrease to 331k, the
largest percentage decrease since March 2015. The West fell 9.5% to
190k, the Northeast saw a 2.4% fall to 41k, and the Midwest fell 10.0%
rise to 63k.
- November's new home sales were revised down to a still strong
689k from the 733k previously reported.
-New homes for sale at the end of the period saw a 3.9% increase to
295k. This is the highest level seen since April 2009. Because of the
increase in homes for sale and the decline in sales of new homes, the
months' supply on the market rose 16.3% to 5.7 months from 4.9 months in
November.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$U$$$,MAUDR$]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.