Posted To: MND NewsWire

New home sales continued the turnaround, started in December, that ended three straight months of slowing sales. The U.S. Census Bureau and Department of Housing and Urban Development said newly constructed homes were sold in January at a seasonally adjusted annual rate of 923,000 units. This is an increase of 4.3 percent compared to the upwardly revised (from 842,000) rate of 885,000 in December and 19.3 percent above the estimate of 774,000 units in January 2020. Analysts polled by Econoday had projected sales to be flat compared to the December estimate, in a range of 809,000 to 905,000 units. Their consensus was 855,000 annualized sales. Robert Dietz, chief economist for the National Association of Home Builders, said “Housing affordability headwinds are rising for 2021, due to supply-side…(read more)

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Source: Mortgage News Daily