The Roller Coaster Ride Continues
Diana Heeb Bivona
In December 2006, there had been a modest increase in new home sales leading many to believe things were getting better. Unfortunately, the numbers for January tell a different story. January brought a 16.6% decline, from 1.12 million to 937,000 homes sold. It is the lowest since 1994 and 20% lower than Jan. 2006. The median new home price was also noted as falling 2.1% to $239,800 from $244,900.
A breakdown of new home sales by region:
- In the West - down 37% to 166,000
- In the Northeast - down 18.7% to 61,000
- In the South - down 9.7% to 529,000
Popularity: 7%