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- U.S. new home sales rise 1.6 percent in December
U.S. new home sales rise 1.6 percent in December
The U.S.
Commerce Department announced on Thursday that the sales of new single-family
homes rose 1.6 percent m-o-m to a seasonally adjusted annual rate of 842,000
units in December.
Economists had
forecast the sales pace of 865,000 last month.
November’s
sales pace was revised down to 829,000 units from the originally reported 841,000
units.
According to
the report, new home sales in the South, the largest area, declined 5.1 percent
m-o-m in December. Meanwhile, sales in the Midwest surged 30.6 percent m-o-m
and those in the West rose 8.8 percent m-o-m. In the Northeast, new home sales decreased
6.1 percent m-o-m in December.
In y-o-y terms,
new home sales were up 15.2 percent in December.
Over the whole 2020,
811,000 new homes were sold, up 18.8 percent from 2019.
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