Sales of new U.S. homes slumped 6.9 percent in January, But rather than seeing this as a sign of a slowing market, many experts attributed the drop to the fact that buyers were more tentative during the government shutdown.
The Commerce Department says that new homes sold at a seasonally adjusted annual rate of 607,000 in January, down from 652,000 in December. Purchases of homes yet to be constructed to fell a whopping 26.8 percent in January, accounting for all of the month's decline.
New-home sales in January ran slightly below the totals for the entirety of both 2018 and 2017. The median sales price of a new home in January fell 3.8 percent, to a nationwide average of $317,200.
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