Sales of new US homes fell 6.9 percent in January, a possible sign that buyers stopped during the government's shutdown.
The Ministry of Commerce says that new homes sold at a seasonally adjusted annual rate of 607,000 in January, down from 652,000 in December.
The partial government's suspension in January, as well as a violent stock market, appears to have damaged sales, even as lower mortgage rates eased affordability and increased buyer interest. Purchases of homes that are yet to be built to fall 26.8 per cent in January are counting on the entire month's decline. Sales increased with homes that were already under construction. Net sales in January were slightly below the total for 201[ads1]8 and 2017.
The median sales price of a new home in January fell 3.8 percent to $ 317,200.