The seasonally adjusted pace of new single-family home sales across the U.S. fell 9.2 percent from December to January. And at a run rate of 494,000 sales, the current pace is 5.2 percent lower versus the same time last year.
The annual pace of new single-family home sales as measured in January has average 653,000 over the past fifty-two years and peaked at 1,203,000 in 2005, 143 percent higher than last month.
And in terms of inventory, the number of new single-family homes for sale across the county is currently 238,000, up 2.1 percent from the month before, 14.4 percent higher versus the same time last year, and the highest inventory of unsold new homes as measured in January since 2009.
In the West, the pace of new single-family home sales tumbled 32.1 percent to an annual pace of 110,000 sales, 24.1 percent lower than the pace at the same time last year.