facebook
twitter
rss
account
search
search

New home sales fall 12.6 percent in month

Feb. 24, 2011 at 11:47 AM   |   Comments

| License Photo
WASHINGTON, Feb. 24 (UPI) -- Sales of new single-family homes fell sharply in January after two consecutive months of increases, the U.S. Commerce Department said Thursday.

Home sales dropped from an upwardly revised annual rate of 325,000 on an annual basis in December to 284,000, dropping 12.6 percent in the month.

January's sales came in 18.6 percent lower than January 2010, when the annual rate stood at 349,000.

The Commerce Department said the median sales price for a new home sold in January fell from $241,500 a month earlier to $230,600.

At the end of January, there were 188,000 homes on the market, a 7.9-month supply at the current rate of sales.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended Stories
Most Popular
1
Army receives first advanced CH-47F helicopter variant
2
Iraq seeks U.S. missiles, helicopter support
3
Best Buy CEO: Tablet sales are crashing
4
API raises bar on oil spill response
5
Airbus retrofits Royal New Zealand Air Force helicopters
Trending News
Video
x
Feedback