US New-Home Sales Fell to the Lowest Since 2022 in January (3)

Sales of new US homes fell by more than expected in January to the lowest since 2022, reflecting a pullback in buyer demand across the country.

New single-family home sales decreased 17.6% from December to an annualized 587,000 pace, according to government figures out Thursday. Sales were weaker than all estimates in a Bloomberg survey of economists.

The figures were likely impacted by severe winter weather in much of the country. While builders continue to offer incentives and price cuts, ongoing affordability concerns are still keeping many prospective buyers on the sidelines.

Sales fell nearly 45% ...