A New Home purchase is the best investment!
The December New Home Sales report was released today at 468k units. This came in about 68k higher than expectations of 400k, and higher than December’s upwardly revised 427k. This was the best number in 5 ½ years and shows a 9.6% increase from December to January. New Home Sales is a more timely indicator because it shows signed contracts in January. The Median Sales Price fell 2.2% to $260,100. Supply fell to 4.7% from 5.2%. The consensus was for this to be a bad number with last month’s inclement weather conditions so this is a very good report.