#1 US new-home sales fell in Dec., finish dismal 201101-26-2012, 03:18 PM
WASHINGTON (AP) — Fewer Americans bought new homes in December, making 2011 the worst sales year on record.
The Commerce Department says new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.
Total sales last year were less than the 323,000 sold in 2010, making it the worst year on records dating back to 1963.
The median sales prices for new homes dropped in December, as builders continued to slash prices. It fell 2.5 percent to $210,300.
The decline in sales comes as other signs suggest the depressed housing market is starting to recover. Construction picked up, sales of previously occupied homes are rising, and builders are slightly more confident.
http://news.yahoo.com/us-home-sales-...151418003.htmlIn Memory Of My Friend 1st Sgt. Tim Millsap A Co, 70th Eng. Bn. 3rd Bde 1st AD...K.I.A. 25 April 2005
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01-27-2012, 12:44 AM
The sales in Sarasota are slightly up, but there are many houses in foreclosure. The prices are starting to almost hold their own. I've noticed that most of the homes in our own area are selling, but they sure aren't getting top dollar. At least the homes aren't on the market quite as long.
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01-27-2012, 01:26 AM
- Join Date
- Mar 2010
My mother lives in the marina, where homes have held their value better than elsewhere in this area. But all is not peachy. Across the street is a house that is not officially in foreclosure, because the bank hasn't started the litigation. They don't have to foreclose to preserve their rights, they can simply do nothing. So the neighbor across the street has paid no mortgage for three years. I have no idea who pays the taxes, but you can drag that out a long time too.
The banks are sitting on a lot of foreclosures, but because of the seasonal nature of Florida, it's not so obvious how many houses are sitting empty or are in default.
01-27-2012, 01:47 AM
Not surprising. Most people are spending their time and money Christmas shopping in December.
01-27-2012, 02:58 AM
Las Vegas area home sales were up, but prices are low. 57% of all sales were bank owned homes, which drove the prices down for everyone.
I bought at the right time, August 2010 :D
01-27-2012, 12:32 PM
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- Woodland Park, Colorado, United States
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