Today, the
U.S. Census Department released its monthly
New Residential Home Sales Report for January showing sales declined a notable 9.2% from December falling 5.2% below the level seen in January 2015 and remaining near an historically low level with 494K SAAR units.
The monthly supply increased to 5.8 months while the median selling price declined 4.52% and the average selling price increased 2.72% from the year ago level.
The following chart show the extent of sales decline to date (click for full-larger version).
