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