Sharp drop in new home sales measure

Publish date
02/24/2010
Source
USA Today
Main Category
Economy - US
Article Summary

The outlook for the home market continues to darken, according to recent data by the U.S. Commerce Department.  The agency reports that the seasonally adjusted sales pace of 309,000 units for new homes in January was its third consecutive monthly decline and the lowest ever recorded for the measure, bringing the rate of decline for the period to 11.2%.  The measure trounced expectations by economists of a 5.0% increase from December, and concluded new home sales for 2009 as the worst on record at 374,000.

Link
http://www.usatoday.com/money/economy/housing/2010-02-24-new-home-sales_N.htm?csp=34&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+UsatodaycomMoney-TopStories+%28Money+-+Top+Stories%29&utm_content=Bloglines
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