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New-home sales hit a record low

Posted on 27 January 2012

Just 302,000 new homes were sold in 2011, 6.2% below 2010 and the lowest number of annual sales since the government started tracking home sales in 1963. In December, sales of single-family homes fell 2.2% month-over-month to an annual rate of 307,000, according to estimates released by the Census Bureau and the Department of Housing and Urban Development.

A consensus of experts from Briefing.com had forecast an annual rate of sales of 321,000 for December. The actual result was a 6.9% decline from 12 months earlier, when homes sold at a 329,000 annual rate……………………………………….Full Article: Source


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