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Friday, January 27, 2012

US New Home Sales in 2011 Recorded the Worst in History: Housig Market Still in Distress

The Commerce Department said Thursday new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. It is down 7.3% below the number sold in December a year ago.

In addition, 302,000 new homes were sold last year (2011), 6.2 % less than 2010, which made last year's sales the worst on records dating back to 1963. And it coincides with a report last week that said 2011 was the weakest year for single-family home construction on record.

In this environment, it is very hard to sell your house.


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