Thursday, March 25, 2010
The sales of new homes indicated a decline of 2.2 percent in February. In the previous month, it was a seasonally adjusted annual sales pace of 308,000. According to the U.S. Commerce Department, this is the slowest pace since the government began tracking the statistic in 1963.
Sales in the Northeast fell 20 percent and Midwest sales declined 18 percent. Sales fell 5 percent in the South but in the West, they rose 21 percent. This was the fourth consecutive monthly decline.
Compared to the previous month, the median price of new homes for sale rose 6 percent in February to $220,500. Inventory rose 1.3 percent to 236,000 indicating a 9.2-month supply at the current sales pace.
Sales in the Northeast fell 20 percent and Midwest sales declined 18 percent. Sales fell 5 percent in the South but in the West, they rose 21 percent. This was the fourth consecutive monthly decline.
Compared to the previous month, the median price of new homes for sale rose 6 percent in February to $220,500. Inventory rose 1.3 percent to 236,000 indicating a 9.2-month supply at the current sales pace.
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posted by Real Estate Investing @ 11:18 PM
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