Newly built, single-family home sales fell 9.2 percent in January to a seasonally adjusted annual rate of 494,000 units compared with the December rate of 544,000 according to the U.S. Census Bureau.
The January 2015 rate is down 5.2 percent from the January 2014 rate of 521,000.
Regionally, new home sales rose 3.4 percent in the Northeast and 1.8 percent in the South. Sales were down 5.9 percent in the Midwest and 32.1 percent in the West.
Inventory for new homes in January 2015 increased to 238,000, a 5.8 month-supply at the current sales pace and the highest level since October 2009.
"After an unusually high December reading, some pullback is to be expected," said Ed Brady, chairman of the National Association of Home Builders, in a statement. "On the positive side, builders are adding inventory in anticipation of future business."
