Sales of new homes in the US increased 3.67% MoM in Dec 2018, a highest monthly growth since May 2018. The rise in sales shows positive effect of lower mortgage rate. New home sales tend to be volatile on monthly basis. However, note that sales fell 2.36% YoY. The median price of a new home was $318,600, a 5% increase on MoM basis and a 7.3% drop on YoY basis. Amid moderation in house prices, land and labour shortage, investment in home building contraction, market expects that housing market will remain weak for a while.
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