New home sales fell 7% in December

The median sales price of a new home fell 2.7% from a year ago to $308,000. Still, there. Sales fell by 2.7 percent in December from the previous month on a seasonally adjusted basis, according to the Commerce Department. Economists had predicted a 1.2 percent sales decline for.

Implications: New home sales finished 2018 on a healthy note, signaling optimism after what was a rocky year. After a steady downward trend since March and an all-around disappointing report in October, new home sales have since rebounded moderately, posting gains in both November and December.

Price growth has stalled as sales sipped last year. The median sales price of a new home in December was $318,600, a 7.2 percent drop from a year ago. Sales increased in December in the Northeast, South and West. But purchases fell in the Midwest.

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