Sales of new homes declined 2.2 percent in February compared to the previous month to a seasonally adjusted annual sales pace of 308,000. This is the slowest pace since the government began tracking the statistic in 1963, according to the U.S. Commerce Department.
This was the fourth consecutive monthly decline. Sales in the Northeast fell 20 percent, Midwest sales declined 18 percent, and sales fell 5 percent in the South. In the West, they rose 21 percent.
The median price of new homes for sale rose 6 percent in February compared to the previous month to $220,500. Inventory rose 1.3 percent to 236,000, a 9.2-month supply at the current sales pace.
Source: Associated Press, Alan Zibel (03/12/2010)
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- PropBob
- Metro Atlanta, Georgia, United States
- Realtor and Real Estate Investor - Revitalizing metro Atlanta, One Property at a Time. www.dovcar.com
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