Sales of newly built single-family homes decreased 12.6 percent in January to a seasonally adjusted 284,000 units, according to data released by the U.S. Census Bureau and Department of Housing and Urban Development.
Regionally, new home sales fell in both the South and West. The Northeast saw a gain of 54.5 percent, rising from very low sales figures the previous month. The Midwest had a more moderate gain of 17.1 percent.
The inventory of new homes fell by 0.5 percent in January to 188,000 units, which represent a 7.9-month supply.
Related Stories
Peppermill Finish
Selling Your Company to Your Team
From company valuation to terms of the transfer, here’s a look at how three different remodelers made the deal work
What's Beyond the Hammer?
Working with Brian Gottlieb on the book Beyond the Hammer provided a masterclass on how to build an aligned team
4 Steps to Prep Your Business for Contraction
How a remodeling company plans ahead for the worst of times (and the best of times)
Creating a Company Fire Drill: How to Prepare for the Worst
A disastrous fire could have been a lot worse if the business wasn’t prepared for the unexpected
The Fundamentals of Growing Profitably
On this episode of Women at WIRC podcast, Nip Tuck Remodeling Owner April Bettinger shares how she plans for her company's profitable growth
3 Things to Add to Your Construction Contract—From a Lawyer
Did you know you can add these three elements to your contracts?
Study Finds Remodelers’ Net Profits Declined
How far did net profits decline and what's influencing the drop?
The Home Depot Bets on Pros Amid Predictions of Flat Sales Growth
For the first time since 2019, The Home Depot’s revenue fell short of Wall Street’s predictions amid a general softening in the home improvement market