bee Calculated Risk On 2/26/2025 10:00 AM AM
The Census Bureau Reports New Home Sales in January Were at a seasonally Adjusted Annual Rate (Saar) or 657 thousand.
The previous three months were revised up.
Sales of New Single-Family Houses in January 2025 Were at a Seasonally Adjusted Annual Rate of 657,000according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development. This is 10.5 percent below the revised December rate of 734,000 and is 1.1 percent below the January 2024 estimate of 664,000.
Emphasis added
Click on graph for larger image.
The First Graph Shows New Home Sales vs. Recessions Since 1963. The Dashed Line is the Current Sales Rate.
New Home Sales were slightly below pre-pandemic levels.
The Second Graph Shows New Home Months of Supply.
The months of supply increased in January to 9.0 months from 8.0 months in December.
The All-Time Record High was 12.2 months of supply in January 2009. The all-time record low was 3.3 months in August 2020.
This is well above the top of the normal range (about 4 to 6 months of supply is normal).
“The seasonally-adjusted estimate of new houses for sale at the end of January was 495,000. This representations a supply of 9.0 months at the Current Sales Rate.”
Sales were below expectations of 678 thousand saar, however sales for the three previous months were revised up. Ill have tomorrow today today.