REPEAT:MNI DATA ANALYSIS:US Jan Home Sales -7.8% To 593k SAAR>

Repeats Story Initially Transmitted at 13:30 GMT Feb 26/08:30 EST Feb 26

--Jan Months' Supply Up 10.9% To 6.1 Months vs 5.5 in Dec  

--Jan New Homes For Sale Up 2.4% to 301k; Highest Since Mar 2009

By Sara Haire and Holly Stokes

     WASHINGTON (MNI) - The pace of new single-family home sales in 

January decreased by 7.8% to 593k. This follows upward revisions to the 

sales pace in December, November, and October, data released by the 

Commerce Department Monday showed. 

     The sales pace came very short of expectations for a rise to 

647,000, based on an MNI survey of economists.  

     The supply of new homes for sale was up 2.4% to 301,000 in January, 

making this the highest level since March of 2009. Based on the 

movements in sales and supply in January, the months' supply rose 10.9% 

to 6.1 months from 5.5 months in December, making it the highest level 

since July 2014. And, well above the 5.2 months supply a year ago. 

     In contingency with the supply of new homes rising, median sales 

price was bound to decline. The median sales price for January saw a 

4.1% decrease to $323,000. The average sales price also saw a decline to 

$382,700. 

     Sales were mixed in the regions. The Midwest saw a 15.4% increase, 

while the West saw only a mild 1.0% increase. Unfortunately, those gains 

were unable to offset the large declines seen in the other regions. The 

Northeast saw a 33.3% decline and the large South region saw a 14.2% 

decrease to 301k. 

     New home sales in December were revised up to 643,000 rate from 

the 625,000 rate previously reported. November sales were revised 

up to a 696,000 rate from the 689,000 pace previously reported. October 

also saw an upward revision to 616k from the 599k seen previously.  

     ** MNI Washington Bureau (202) 371-2121 **