Thursday, January 26, 2012

Capping Worst Year On Record, Sales Of New Homes Drop In December

I'm not sure I heard any solutions from President during the State of the Union:

The AP reports:
"The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

    "About 302,000 homes were sold last year. That's less than the 323,000 sold in 2010, making 2011 the worst year on records dating back to 1963.

    "The median sales prices for new homes dropped in December, as builders continued to slash prices. It fell 2.5 percent to $210,300."
Full article

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