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U.S. New Home Sales Steady Near Multi-Year Highs; Supply Up

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This Jan. 8, 2015 photo shows a home for sale in Charlotte, N.C. The National Association of Realtors reports on sales of existing homes in January on Monday, Feb. 23, 2015. (AP Photo/Chuck Burton)

This Jan. 8, 2015 photo shows a home for sale in Charlotte, N.C. (AP Photo/Chuck Burton)

(Reuters) – New U.S. single-family home sales fell only slightly in January despite big declines in the snow-battered Northeast while supply rose to its highest level since 2010, hopeful signs for a sluggish housing market.

The Commerce Department said on Wednesday that sales dipped 0.2 percent to a seasonally adjusted annual rate of 481,000 units. December’s sales pace was revised up to 482,000 units, the highest level since June 2008, from 481,000 units.

“We are still taking sort of a meandering, bumpy path towards recovery. We expect housing will improve later this year due to the improvement in the labor market and credit conditions,” said Stephanie Karol, a U.S. economist at IHS Global Insight in Lexington, Massachusetts.

Sales were likely held back by snow storms in the Northeast, where sales recorded their biggest drop since June 2012.

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Oakland Post: Week of November 13 – 19, 2024

The printed Weekly Edition of the Oakland Post: Week of November 13 – 19, 2024

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LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST

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Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024
5 p.m. – 6:30 p.m. PST

Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?

Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.

STREAMED LIVE!
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YOUTUBE: youtube.com/blackpressusatv
X: twitter.com/blackpressusa

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Oakland Post: Week of November 6 – 12, 2024

The printed Weekly Edition of the Oakland Post: Week of November 6 – 12, 2024

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