NewsMine — economy — united-states — 2007-jan-may — Viewing Item

January 2007 new homes sales fall 17 percent Original Source Link: (May no longer be active)    http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2007-02-28T150248Z_01_N27422284_RTRUKOC_0_US-USA-ECONOMY-NEWHOMES.xml&src=rss&rpc=23 http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2007-02-28T150248Z_01_N27422284_RTRUKOC_0_US-USA-ECONOMY-NEWHOMES.xml&src=rss&rpc=23 January new home sales fall 16.6 percent Wed Feb 28, 2007 10:03 AM ET WASHINGTON (Reuters) - Sales of new U.S. homes fell 16.6 percent in January and prices were little changed as the number of new homes on the market decreased slightly, according to a government report on Wednesday showing some weakness in the unsteady housing sector. The monthly decline was the sharpest in 13 years, since a 23.8 percent drop-off in January 1994. New single-family home sales fell to an annualized rate of 937,000 units from an upwardly revised rate of 1.123 million units in December, the Commerce Department said. Analysts polled by Reuters were expecting January sales to dip to 1.080 million from the previously reported rate of 1.120 million units in December. In January, the median sales price of a new home rose $400 to $239,800 from $239,400 in December. At the current sales pace, the supply of new homes available for sale rose to 6.8 months' worth from the 5.7 months' worth in December, which represents a 19.3 percent increase. There were a total of 536,000 new homes available for sale at the end of January, down 0.2 percent from December. The Commerce Department's data comes a day after a Realtor trade group reported a stronger-than-expected month of existing home sales. The sales pace of previously owned homes rose 3.0 percent in January, the biggest jump in two years, the National Association of Realtors said. Home resales, which represent 85 percent of the housing market, climbed to a 6.46 million-unit annual rate. Across the regions, the West saw the sharpest decline in new home sales with a 37.4 percent drop. In the Northeast, new home sales fell 18.7 percent while they decreased 8.1 percent in the Midwest and 9.7 percent in the South. © Reuters 2007

Almost 7m kids die a year from hunger Anxiety over housing market pulls down stocks { March 28 2007 } Credit counselors overwhelmed by mortgage crisis Dollar drops under half british pound { March 2007 } Dollar may fall on weak manufacturing { December 2007 } Dollar nears record low against euro { March 2007 } Dow fell over 500 points { January 2007 } Dow hits 12800 record high { March 2007 } Existing home sales fall 8 percent { March 2007 } Factory orders plunge { March 6 2007 } Gold selloff continues to cover equity losses { February 2007 } Greenspan warns of US recession { January 2007 } Hershey cuts jobs builds plant in mexico { January 2007 } Home prices to fall for first time since great depression { April 12 2007 } Investers sell gold to recover market losses { January 2007 } January 2007 new homes sales fall 17 percent Jobless numbers highest in weeks { December 2007 } Late mortgage payments up forclosures surge { March 14 2007 } Retail sales fell sharply last month { May 11 2007 } Soaring rates risks 2m american homes { March 14 2007 } Stocks plummet on subprime concerns Trade deficit with china reaches record 214b { January 10 2007 } US food prices spiked { March 2007 } US productivity growth behind EU for first time { December 2007 } Wallstreet plummets after chinese stocks drop { January 2007 } Files Listed: 25

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