U.S. new home sales fall unexpectedly, low mortgage rates lend support

WASHINGTON - Sales of new U.S. single-family homes fell unexpectedly in December, likely held down by a shortage of more affordable homes, but lower mortgage rates supported the overall housing market.

New home sales slipped 0.4% last month to a seasonally adjusted annual rate of 694,000 units, with sales in the South dropping to the lowest in more than a year. It was the third straight monthly decline in sales. November’s sales pace was revised down to 697,000 units from the previously reported 719,000. September and October sales were also marked down.

Economists polled by Reuters had forecast new home sales, which account for about 11.1 % of housing market sales, would increase 1.5% to a pace of 730,000 units in December. Officials from the U.S. central bank are scheduled to meet on Tuesday and Wednesday. They are expected to reiterate the Fed’s desire to keep rates unchanged at least through this year, which could limit further declines in mortgage rates. Still, economists are optimistic the housing market will remain solid.

Housing is expected to have contributed to GDP growth again in the fourth quarter. Residential investment rebounded in the third quarter after contracting for six straight quarters, the longest such stretch since the 2007-2009 recession.

Source: Loan Digest (loandigest.net)

Buy best quality weed legally at

Third consecutive month, but our economy is the greatest in history.

It’s so funny that our economy is so tied to Home Buying bc of the bullshit FED and Wall St. The Economy is a house of Cards. Fraud. Debt. Smfh

Existing home sales where I am are DOWN. Home values DOWN. New home starts DOWN despite unseasonably warm weather. So you tell me, we Winning yet?

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. new home sales drop for third straight month in DecemberSales of new U.S. single-family homes unexpectedly fell in December, likely held... crash inc Of course it falls over the holidays How are they impervious to supply and demand? The most sought after homes where less then 10% ofnthe market. How can they afford to build expensive houses with no buyers, while completely ignoring demand?
Source: Reuters - 🏆 2. / 97 Read more »

Halsey's Album Sales & Most-Streamed Songs, From 'Closer' to 'Without Me' & More: Ask Billboard MailbagIn celebration of the arrival of Manic, let's recap Halsey's career U.S. album sales and her most-streamed on-demand songs halsey
Source: billboard - 🏆 112. / 63 Read more »

How The Vinyl Resurgence Is Impacting Film and TV Score SalesFilm studios are chasing a ballooning big-spending market for their scores and soundtracks: vinyl geeks. W okaay
Source: billboard - 🏆 112. / 63 Read more »

U.S. new home sales drop for third straight month in DecemberSales of new U.S. single-family homes unexpectedly fell in December, likely held... crash inc Of course it falls over the holidays How are they impervious to supply and demand? The most sought after homes where less then 10% ofnthe market. How can they afford to build expensive houses with no buyers, while completely ignoring demand?
Source: Reuters - 🏆 2. / 97 Read more »

Futures tumble on fears of financial hit from China virusU.S. stock index futures fell sharply on growing concerns about the financial fa... And the Fed increases the Repo threshold in 3, 2, 1... Not the greatest start to the week 400 plus points... Remember: No vaccine for Wuhan, China CORONAVIRUS or SARS2 - can't give you a Lifelong Immunity. It's an RNA virus like Flu or common colds, IT MUTATES FROM HOSTS TO HOSTS.... Stop using paper money if you can too. $XRP $BTC
Source: Reuters - 🏆 2. / 97 Read more »