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US new home sales edge lower in January

by ChemOrbis Editorial Team - content@chemorbis.com
  • 26/02/2015 (11:28)
According to data compiled by the US Commerce Department, new home sales in the US edged lower in January. New home sales declined 0.2% to 481,000 units on a seasonally adjusted basis in January from 482,000 units in December. Economists’ initial estimates called for a pace of 470,000 units in January, according to a survey conducted by Reuters.

Across the country, new home sales in the Northeast decreased 51.5% to a record low while sales in the South rose 2.2% to post the highest level since May, 2008. New home sales increased 19.2% in the Midwest while they slipped 0.8% in the West.

On a yearly basis, the country’s new home sales climbed 5.3% in January.
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