Yesterday the New Home Sales for December 2010 with bad news for most of the regions except the West. New Home Sales is an annualized number of new single-family homes that were sold during the previous month. It is considered a leading indicator of economic health due to its ripple effects throughout the economy. The forecasted number called for 302k and the actual headline number was 329k, beating forecast and the prior months revised figure of 280k (revised from 290k). Decembers number is down -8.2% from the prior years number and up 14.9% from the prior month.
To break down the U.S. number further by the separate regions we see that only one region (the West) is doing the best. The Western region grew Year-over-Year by 32.53% and 71.87% Month-over-Month. The Northeast reduced home sales Year-over-Year by -50% and -5% Month-over-Month. The following graphs have the breakdown of the regions.
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