Use access key #2 to skip to page content.

kdakota630 (29.62)

New Home Sales Fall To 13-year Low

Recs

5

March 26, 2008 – Comments (0)

WASHINGTON - Sales of new homes in the United States fell to a 13-year low in February, dropping 1.3% to a seasonally adjusted annual rate of 590,000, the Commerce Department estimated Wednesday. Sales have fallen four months in a row and are off about 30% in the past year. The number of homes on the market dropped by 2.1% to 471,000, the lowest since July 2005, an indication that builders are trying to work off their bloated inventories of unsold homes. The inventory represented a 9.8-month supply at the February sales rate, unchanged from January and the highest since 1981. The median sales price fell 2.7% in the past year to $244,100.

Copyright © 2008 MarketWatch, Inc.

0 Comments – Post Your Own

Featured Broker Partners


Advertisement