|
contents | news | |||||||||
| New-home sales down 5 percent in January Sales of new single-family homes fell 5 percent to a seasonally adjusted annual rate of 1.233 million units in January following upward revisions to the November and December rates, the U.S. Commerce Department reported. The January sales rate was 3.3 percent above a year ago. “After a record-setting sales pace in 2005, home builders are seeing an orderly cooling-down process as the supply-demand balance shifts and buyers gain more leverage, ” said David Pressly, president of the National Association of Home Builders (NAHB). The inventory of new homes for sale rose slightly in January to a record 528, 000 units from 515, 000 units. The months’ supply at the current sales pace rose to 5.2, the highest since late 1996. write your comments about the article :: © 2006 Construction News :: home page |