| New homes sales hit all time high in 2005 Original Source Link: (May no longer be active) http://abcnews.go.com/Business/wireStory?id=1548417http://abcnews.go.com/Business/wireStory?id=1548417
New-Homes Sales Hit All-Time High in 2005 New-Homes Sales Reach All-Time High in 2005, Marking Fifth Straight Year of Record Sales By JEANNINE AVERSA The Associated Press
WASHINGTON Jan 27, 2006 - New-home sales for all of 2005 climbed to an all-time high, marking the fifth year in a row of record sales.
The Commerce Department reported Friday that sales of new single-family homes clocked in at 1.28 million units last year, representing a 6.6 percent increase over last year's 1.20 million units, the previous all-time high.
Sales of new homes as well as existing homes the biggest chunk of the housing market have logged records five years running.
In December, new-home sales rose 2.9 percent from November's pace defying analysts' expectations for sales to go down last month.
The roaring housing market has helped to underpin consumer spending and bolster overall economic growth. Looking ahead, economists expect the housing market will slow this year, and there have been increasing signs that the market is starting to lose steam.
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