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New home sales fall further than anticipated to 6.9%

March 14, 2019 / Alcynna Lloyd

New home sales cooled off in January, according to the latest report from the Census Bureau and the Department of Housing and Urban Development. According to their analysis, new home sales reversed course from December, declining 6.9% in January. In fact, sales of new single-family houses fell to 607,000.Not only is this level down from December’s revised rate of 652,000, but it is also 4.1% down from the previous year’s level of 633,000.