Yonhap Infomax NewsUS new home sales plunged 17.6% in January to 587,000 units on an annualized basis, marking the lowest level since October 2022 and significantly missing market expectations of 720,000 units, while inventory climbed to a 9.7-month supply at current sales pace.
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US New Home Sales Hit 3-Year, 3-Month Low in January - Plunge 18% From Previous Month
US new home sales plunged 17.6% in January to 587,000 units on an annualized basis, marking the lowest level since October 2022 and significantly missing market expectations of 720,000 units, while inventory climbed to a 9.7-month supply at current sales pace.