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REAL ESTATE DECISION SUPPORT
New home sales post strong decline
Publish date
02/24/2010
Source
Denver Business Journal
Main Category
Economy - Colorado
Article Summary
The nation experienced its lowest annual sales rate for new homes since 1963 in January, reports the U.S. Commerce Department. According to the agency, the rate of 309,000 new home sales in the period is an 11.2% decline from December and brings the year-over-year measure down 6.1%. However, while the western states (which includes Colorado) posted an 11.9% decline from the previous month with an annualized sales level of 74,000 new homes, the 13.8% increase clocked for the year-over-year measure was the highest of all the regions in the U.S.
