U.S. New Home Sales Hit 369K in Dec.; Recovery Still Taking Hold (HD) (LOW)

January 25, 2013 10:29 AM EST
Homebuilders and retailers are on watch Friday following issuance of mixed new home sales data earlier.

Data from the U.S. Commerce Department has sales falling 7.3 percent from November to a seasonally-adjusted 369,000 unit annual rate in December. Despite the drop, sales were up about 8.8 percent from December 2011.

The Street consensus called for a gain to 385,000 units.

For November, the Commerce Department raised its estimate by 22,000 units to an annual run-rate of 398,000 units, the fastest growth since April 2010. Total homes sold in 2012 were about 367,000, the most since 2009.

Median prices for new homes showed a marked improvement, rising from $245,600 in November up to $248,900 for December, though those are unadjusted numbers.

Aside from homebuilders, Lumber Liquidators (NYSE: LL), Home Depot (NYSE: HD), and Lowe's (NYSE: LOW) are all in positive territory Friday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Economic Data

Add Your Comment