Sales of new single‐family houses in January 2019 were at a seasonally adjusted annual rate (SAAR) of 607,000, according to the Census Bureau's New Residential Construction Report for January.

This is 6.9 percent below the revised December rate of 652,000 and is 4.1 percent below the January 2018 estimate of 633,000.

Expect More Revisions

The bureau revised December up to 652,000 units from 621,000 units.

Huge regional percentage variances suggest more revisions are on the way.

  • Northeast: 31,000 Units, -11.4%
  • Midwest: 50,000 Units, -28.6%
  • South: 342,000 Units, -15.1%
  • West: 184,000 Units, +27.8%

Volatility is norm in the smaller regions where weather is also a big factor.

Mike "Mish" Shedlock

December New Home Sales Jump 3.7% From Huge Negative Revisions

New home sales rose a seemingly solid 3.7% to 621K but the reason is suspect: Strong negative revisions in Oct and Nov.

New Home Sales Decline 6.9%, But From Upwardly Revised Numbers

New home sales fell 6.9% in April to a 673,000 (SAAR). Upward revisions added 39,000 sales to the prior two months.

New Home Sales Bounce 7% in June from Hugely Negative Revisions

New home sales rose 7% but the total fell far short of expectations because of revisions.

Strong Retail Sales Report Counting Upward Revisions

The May retail sales number missed expectations slightly but the Census Bureau upgraded April from -0.2% to +0.3%.

New Home Sales Badly Miss Expectations

New home sales rose 1.3% in November but only because of huge downward revisions.

New Home Sales Surge, Prices Down, Revisions Negative

New home sales beat economists expectations. But the surge was entirely in the South.

Thud! Sept New Home Sales Plunge 5.5% from Dramatically Revised Lower August

The housing data today is downright miserable. Sales plunged a whopping 5.5% from a dramatically revised lower August.

New Home Sales Dive 8.9% in October, Down 12.0% From Year Ago

Upward revisions in Aug and Sep were not enough to offset a plunge in new home sales below any economist's forecast.

New Home Sales a Bit Short of Expectations, May Revised Lower

New home sales came in at a seasonally adjusted annualized rate of 610,000 units, just short of the Econoday consensus of 611,000.