New home sales are up, but pace disappoints; Price slips

New residential single-family home sales increased 3.7% to an annually adjusted rate of 555,000 in January, the report stated. This is up from December's rate of 535,000 and 5.5% above January 2016's rate of 526,000. .. new sales have much room to grow," McLaughlin said. "In January, new home sales represented about 11.6% of all sales, which is less than half of the pre-recession average of 23.6%." Median sales prices of new homes sold slipped in January from December's $322,500 to $312,900 in January. The average sales price slipped from $384,000 to $360,900 in January.''