facebook
twitter
search
search

Home sales fall sharply again

March 23, 2011 at 11:09 AM
| License Photo

WASHINGTON, March 23 (UPI) -- Sales of new single-family homes fell sharply in February for the second consecutive month, the U.S. Commerce Department said Wednesday.

Home sales dropped 16.9 percent to 250,000 units from an upwardly revised January figure of 301,000.

Previously, the department said new home sales in January fell 12.6 percent from December to 284,000 on an annual basis

February's sales came in 28 percent lower than February 2010, when the annual rate stood at 347,000.

The Commerce Department said the median sales price for a new home sold in January fell sharply from $246,000 a month earlier to $202,100.

At the end of February, there were 186,000 new homes on the market, a supply of almost nine months at the current rate of sales.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Ford recalls 432,000 North American vehicles over software bug
Compact cannon for British armored vehicles
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules