New US Home Sales Drop by More Than 10 Percent

While sales are expected to rebound this month, high mortgage rates will limit the upside potential for buying activity in 2025, said an economist.
New US Home Sales Drop by More Than 10 Percent
A sign in front of a home for sale in Arlington, Va., on Aug. 22, 2023. Andrew Caballero-Reynolds/AFP via Getty Images
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Sales of new homes in the United States fell by double digits in January on a monthly basis amid an increase in property prices and persistently high mortgage rates hovering at about the 7 percent level, according to the latest data from the U.S. Census Bureau.

January sales of new single-family houses declined by 10.5 percent from December 2024 at a seasonally adjusted annual rate of 657,000 units, the data show.

Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.