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2006 new homes sales drop 17pc Original Source Link: (May no longer be active)    http://www.usatoday.com/money/economy/housing/2007-01-26-new-homes_x.htm?POE=NEWISVA http://www.usatoday.com/money/economy/housing/2007-01-26-new-homes_x.htm?POE=NEWISVA New-home sales strong in December, but post 17.3% drop for 2006 Updated 1/26/2007 10:56 AM ET Updated 1/26/2007 10:56 AM ET WASHINGTON (Reuters) — Sales of new homes rose 4.8% in December and prices climbed 1.2% as the number of homes on the market decreased, but for the year, the Commerce Department said 1.061 million new homes were sold, down 17.3% from 2005. While Friday's report showed some firming in the weakened housing sector in December. The year's drop was the biggest in 16 years and the first annual decline after a five-year rally. In December, sales of new single-family homes rose to a 1.120 million unit annual rate after climbing sharply the previous month. The department revised November 's sales pace up to a 1.069 million pace from an originally reported 1.047 million unit rate. While those increases were better than expected, analysts cautioned that they were influenced by unusually warm weather in those two months. The number of new homes on the market at the end of December fell to 537,000 from 542,000 a month earlier. At the current sales pace, that represented 5.9 months' supply. The median home price — half sold for more, half for less — rose to $235,000 in December from a downwardly revised $232,200 in November, the Commerce Department said. New-home sales in December rose 27.3% in the Northeast, 26.6% in the Midwest and 0.3% in the South. In the West, sales fell 4.4%. The Commerce Department's latest take on the housing market adds to data released a day earlier that showed a 0.8% decline in December sales of existing homes, which represent 85% of the housing market. According to that National Association of Realtors, existing home sales dropped 8.4% in 2006, sharpest decline since 1989, when they fell 14.8%. Contributing: Associated Press Copyright 2007 Reuters Limited. Click for Restrictions.

2006 new homes sales drop 17pc Americans not paying off home mortages { August 28 2005 } Banks court illegal aliens with home loans Banks making record levels of commercial estate loans { July 17 2005 } Banks profit from low interest rates { July 12 2005 } Banks pushing high risk loans Bernanke sees cooling housing market { May 18 2006 } Bush and congress approval at record low { September 2007 } China keeping US long term rates down China keeps long term mortgage rates down { May 30 2005 } Constructions of homes hits record lows { November 2007 } County home valuation inceased 70 percent 3 yrs { January 6 2005 } DC area not as hurt by foreclosures { February 2008 } Dc housing market market slight cool off { July 25 2005 } Dc suburb home prices up as foreclosures soar { October 2007 } Declining mortgage rates cause record home sales 2005 Dollar and housing prices big drop { September 2006 } Dot com boom rekindled { October 16 2007 } Existing home sales drop again { August 2007 } Existing home sales lowest since 2004 Fbi investigates subprime fraud { January 29 2008 } Fed concerned over severe housing market pullback Fed sees significant credit pressure on economy { August 2007 } Firms conspired to inflate housing market { November 2 2007 } Forecast sees housing prices falling { October 3 2006 } Foreclosure filings soar in 3rd quarter { October 2007 } Foreclosures almost double in one year { October 2007 } Foreclosures hit cali florida navada hardest { October 2007 } Foreclosures hit record high { May 2008 } Foreclosures to have profound impact { November 27 2007 } Foreign investers buying up foreclosures { April 22 2008 } Gas prices causing reurbanization { June 17 2008 } Gentrification turning dc black to white { May 17 2007 } Global investors bought the mortgage crisis Glut of unsold new homes hits record high Greenspan predicts housing bubble wont last { May 21 2005 } Greenspan profits off subprime mess { January 15 2008 } Greenspan says beware of local housing bubbles Greenspan warns of asset prices after euporia Greenspan warns of housing bubble crash { August 27 2005 } Home foreclosures jump 90perc { January 2008 } Home prices drop for 21st month { June 24 2008 } Home prices drop sharpest in 20 years { May 27 2008 } Home prices fall 3 and half percent in year { October 2006 } Home prices falls record 11perc { March 25 2008 } Home prices fell for first time in 40yrs { January 24 2008 } Home prices fell most on record { January 2008 } Home prices plunge across california { February 2008 } Home resales slowed in july Homebuilder sinks to lowest since 1995 in { May 15 2006 } Homeowners place faith in exotic mortgages { July 18 2005 } Housing and consumer market cools { May 2006 } Housing crisis reverberates around globe { November 2007 } Housing market cooling data says { November 11 2005 } Housing market sinks further { February 16 2007 } Housing prices post record declines { April 29 2008 } June sales high with lowest average 30 year mortgage LA and miami home foreclosures double { June 2008 } Largest lender posts first losses in 25 years { September 2007 } Loan processor guilty to selling aliens homes Low long term rates a conundrum for greenspan Major swiss bank hit hard from US housing { October 1 2007 } Massachusetts housing slump rivals late 1980s { May 25 2007 } Median home cost plunged 13perc for year { April 25 2008 } Median price of new home drops 11 percent { May 25 2007 } Millions of subprime home loans to be foreclosed Mortage rates up as fed cuts interest rates { February 21 2008 } Mortgage crisis hits million dollar homes { March 29 2007 } Mortgage delinquencies a rising threat { November 2006 } Mortgage execs arrested for securities fraud { June 19 2008 } Mortgage rates to highest levels in 4 yrs { May 2006 } New homes and consumer confidence plunge New homes sales hit all time high in 2005 No end in sight about housing slump { October 26 2007 } Number of unsold homes hits record high Poor swept by gentrification in real estate boom { December 14 2005 } Previously owned homes sales fell october 2005 Prices fall for homes with long commute { April 21 2008 } Sales of new homes plunged 11 percent { March 25 2006 } Sales of new homes plunged { August 2007 } Sales of new homes record fall in 9 yrs { February 2006 } Second biggest subprime mortgage lender bankrupt Slowdown in realestate may hurt retail sales Slowing US housing market to drag down world economy { January 10 2007 } Southern california homes plunge 30perc { September 2007 } Subprime lending crash will ripple housing market { February 22 2007 } Third of all loans in 2004 adjustable rate { June 26 2005 } Two thirds of cities home prices fall { April 2008 } US housing prices down but DC recovers { April 2007 } Vacation home sales are at unprecendented levels Washington dc average home predicted by 2057 at 14m Washington DC condo market collapsing { January 16 2007 } Weak housing market to cause economic slowdown { November 21 2006 } Files Listed: 93

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