Mexican Media Brands
U.S. Home Sales Surge to 66-Month High
Sales of new homes in the U.S. grew 10% to a seasonally adjusted annual rate of 468,000 units in January, the highest volume since July 2008, according to the Dept. of Commerce.
#economics
Share
Sales of new homes in the U.S. grew 10% to a seasonally adjusted annual rate of 468,000 units in January, the highest volume since July 2008, according to the Dept. of Commerce.
The report says January regional sales jumped 74% in the Northeast, 11% in the West and 10% in the South. Home sales dropped 17% in the Midwest, which was hit with prolonged cold weather.
But new-home sales, which account for less than 10% of the American housing market, vary sharply from month to month and are not considered a reliable measure of the country's economic health.
Analysts point to several indicators that the overall housing market is cooling. They note that January sales of previously owned homes dropped to a 1.5-year-low, and housing starts posted their sharpest shrinkage in almost three years. Loan applications for homes hit a 19-year low last week.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future