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Market Update : 
New Home Sales Fall 2.8% in January
Author: 123jump.com Staff
123jump.com
Last Update: 10:29 AM EST February 27 2008


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Sales of new one-family houses in January 2008 were at a seasonally adjusted annual rate of 588,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.8% ±15.3% below the revised December rate of 605,000 and is 33.9% ±10.0% below the January 2007 estimate of 890,000.

 
The following is the unedited transcript of the news release from the U.S. Department of Commerce.


NEW RESIDENTIAL SALES IN JANUARY 2008

Sales of new one-family houses in January 2008 were at a seasonally adjusted annual rate of 588,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.8 percent (±15.3%)* below the revised December rate of 605,000 and is 33.9 percent (±10.0%) below the January 2007 estimate of 890,000.

The median sales price of new houses sold in January 2008 was $216,000; the average sales price was $276,600. The seasonally adjusted estimate of new houses for sale at the end of January was 482,000. This represents a supply of 9.9 months at the current sales rate.


Available at:

http://www.census.gov/const/newressales.pdf
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