RealEstateJournal | Sales of New Homes Fell By 5% During January
RealEstateJournal Sales of New Homes Fell By 5% During January
A Wall Street Journal Online News Roundup
New-home sales fell for the fourth time in six months during January, while the inventory of new residences on the market climbed to another record.
The Commerce Department said Monday that sales of single-family homes decreased 5% to a seasonally adjusted annual rate of 1.233 million, from a rate of 1.298 million during December. Sales dropped 7% in November, rose 7.7% in October, and sank 2% in September and 7.1% in August.
"Demand for new housing has passed its peak and is slowly retreating," Steven Wood of consulting firm Insight Economics wrote in a research note.
A Wall Street Journal Online News Roundup
New-home sales fell for the fourth time in six months during January, while the inventory of new residences on the market climbed to another record.
The Commerce Department said Monday that sales of single-family homes decreased 5% to a seasonally adjusted annual rate of 1.233 million, from a rate of 1.298 million during December. Sales dropped 7% in November, rose 7.7% in October, and sank 2% in September and 7.1% in August.
"Demand for new housing has passed its peak and is slowly retreating," Steven Wood of consulting firm Insight Economics wrote in a research note.
posted by Patrick Leblanc at 2:53 PM
<< Home