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US New Home Sales

Event Date: Monday, February 26, 2024
Event Time: 15:00 CET

New Home Sales to Increase Again in January

Updated Monday, February 26, 2024
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US home sales turned negative in October 2019 in the US, posting a 1.7% decline. In November, home sales increased by 1.2%, but in December they posted a massive decline of 4.9%, so in total home sales declined by 5.4% in Q4 of last year. Although, the report released in February showed a massive increase of 5.2%, so this year started off pretty good. But, it got worse, as the economy shut down on coronavirus, and we have seen some major declines of 20.8% and 21.8% in spring last year during the lockdowns, but in May the situation reversed. Home sales have been surging in recent months as US citizens move out of the big cities and into the suburbs or the interior areas of the US,  due to the unrest and surging prices in major cities. However new home sales showed a decent jump in December, coming at 664K, while this week's number is expected to show an increase to 680K. Please follow us for coverage of this event live by experienced market analysts.  

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About US New Home Sales
This is the annualized number of new homes sold in the previous month. It is an indicator of medium importance. It gives us a clue of how the economy will perform in the coming weeks. The number represents the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction. sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
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