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New Home Sales Down Month-To-Month

WASHINGTON, Feb. 24 (UPI) — Sales of new single-family homes declined 0.9 percent from December to January, the U.S. Commerce Department said Friday.

Home sales in January came in at a seasonally adjusted annual rate of 321,000. In December 324,000 new homes were sold, the department said, releasing a revised figure.

The rate of home sales in January came in 3.5 percent above the 310,000 new single-family homes sold in the same month of 2011.

The Commerce Department said the average sale price for a new home sold in January was $261,600.

Going into February, there were 151,000 new homes on the market, a 5.6-month supply at the current rate of sales, the Commerce Department said.

 

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  • Mark in LA

    Right now anybody even thinking of buying a new house needs his head examined unless you happen to be in one of the very few areas with few foreclosures. In some of the hard hit areas, prices for existing homes are lower now than when the homes were sold 20 years ago. You can’t build them this cheaply and the prices are starting to slide again.

  • s c

    I don’t know what it will take for enough Americans to appreciate just how much of a tin-plated scumbag Uncle Scam really is, but the real estate bust ought to qualify. It took a long time, but now people know [or SHOULD know] that real estate prices CAN COME DOWN.
    So, bankers were WRONG! Investment firms were WRONG. Your friends were WRONG. Even your parents were WRONG. Your parents have an excuse. They TRUSTED Uncle Scam, banks, investment firms and friends.
    The kicker in this equation is the W H ‘God,’ who thinks he knows everything about everything, regardless of the FACT that he has NO business experience. He knows SQUAT about economics. He knows SQUAT about real estate. He knows SQUAT about JOBS. He knows SQUAT about what it takes to ‘try and correct what GB did.’
    You could safely say that the W H ‘God’ knows SQUAT on almost any topic you can name. I guess the old saying is true, folks. An old expression says that ‘we have the best government that MONEY can buy.’ Add to that the idea that ‘we have the best PREZ that MONEY can buy.’
    So, MONEY can’t buy everything after all. My, oh my. Imagine THAT. So HOW MANY of you have figured out what to do when MONEY is WORTHLESS? Between the current Fed ‘God’ and the W H ‘God,’ we are SCREWED.

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