New Home Sales Rose 9.8% in Jan. to 468K Annual Rate, Topping Expectations
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(Updated - February 26, 2014 10:07 AM EST)
January New Home sales were 468,000 versus an expected 400,000. Sales rose 9.6% versus an expected decline of 3.4%.
UPDATE - The U.S. Census press release is below:
Sales of new single-family houses in January 2014 were at a seasonally adjusted annual rate of 468,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent (±17.9%)* above the revised December rate of 427,000 and is 2.2 percent (±20.2%) above the January 2013 estimate of 458,000.
The median sales price of new houses sold in January 2014 was $260,100; the average sales price was $322,800. The seasonally adjusted estimate of new houses for sale at the end of January was 184,000. This represents a supply of 4.7 months at the current sales rate.
Traders are watching home builder stocks on the news: SPDR S&P Homebuilders ETF (NYSE: XHB), PulteGroup, Inc. (NYSE: PHM). Toll Brothers (NYSE: TOL), Lennar Corp. (NYSE: LEN), DR Horton Inc. (NYSE: DHI), KB Home (NYSE: KBH), Beazer Homes USA Inc. (NYSE: BZH).
January New Home sales were 468,000 versus an expected 400,000. Sales rose 9.6% versus an expected decline of 3.4%.
UPDATE - The U.S. Census press release is below:
Sales of new single-family houses in January 2014 were at a seasonally adjusted annual rate of 468,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent (±17.9%)* above the revised December rate of 427,000 and is 2.2 percent (±20.2%) above the January 2013 estimate of 458,000.
The median sales price of new houses sold in January 2014 was $260,100; the average sales price was $322,800. The seasonally adjusted estimate of new houses for sale at the end of January was 184,000. This represents a supply of 4.7 months at the current sales rate.
Traders are watching home builder stocks on the news: SPDR S&P Homebuilders ETF (NYSE: XHB), PulteGroup, Inc. (NYSE: PHM). Toll Brothers (NYSE: TOL), Lennar Corp. (NYSE: LEN), DR Horton Inc. (NYSE: DHI), KB Home (NYSE: KBH), Beazer Homes USA Inc. (NYSE: BZH).
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