New Home Sales Continue Drifting Near All-Time Lows

by devteam September 26th, 2011 | Share

Sales of new single-family homes continue to drag along the bottom of their all-time range.  In the most recent estimate released jointly by the Census Bureau and HUD, sales fell 2.3 percent to an annual rate of 295k (seasonally adjusted).  Despite the amount of New Homes on market dropping to an all-time low of 162,000, the downtick in sales was enough to nudge months of supply slightly higher from 6.5 to 6.6 (months of supply have been either 6.5 or 6.6 since April).</p

Prices also declined, with the median price falling from $228k to $209k, it’s lowest since October 2010.  Average prices effectively matched their January 2009 lows, falling from $269k to $246k.  With the exception of January 2009, you’d have to go back to October 2003 to find a lower average price.</p

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of is prohibited.

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs


Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...