New home sales drop almost 7 percent in January

Real Estate

Sales of new U.S. homes in the U.S. dropped almost 7% in January, indicating the housing market got off to a slow start in early 2019 amid a partial government shutdown and patches of unusually harsh weather.

New-home sales declined to a 607,000 annual rate in January, according to government report delayed by the partial 35-day federal shutdown earlier this year. That’s how many new homes would be sold for the full year if sales were the same each month.

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