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New Home Sales Pull Back Slightly in December; Year-Over-Year Gains Continue

Monday, January 27, 2020

A lot of expectations and optimism were probably dashed by the December report on new home sales from the Census Bureau and Department of Housing and Urban Development. Analysts were expecting sales to build on the November seasonally adjusted annual estimate of 719,000 units which was an increase of 1.3 percent from October. Indeed, every prediction from those polled by Econoday was at that level or higher, with a consensus of 728,000 units. Instead, not only did the number fail to reach the bottom of that range, but November's number was revised down substantially.

iods while sales in the West soared by 31.0 percent and 99.2 percent.

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