U.S. new home sales rise less than expected in January
Figures from the Commerce Department showed new home sales were up 3.7% from December's revised rate of 535,000 to a seasonally-adjusted rate of 555,000, and 5.5% above the January 2016 level.
The December reading was revised down a touch from a previous estimate of 536,000.
Meanwhile, the median price of new houses sold in January was $312,900, down 1% from December but 7% higher compared to a year ago.
The seasonally-adjusted estimate of new houses for sale at the end of January was 265,000, which represents a supply of 5.7 months at the current sales rate. ■