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New Home Sales Drop 7.3%

Sales of new single-family homes fell 7.3% for December to a seasonally adjusted annual rate of 369,000, according to a Commerce Department report [link opens in PDF] released today. Market analysts had expected a 2.5% drop from November's revised 398,000 rate, but the Department's December figure came in a solid 4.9% below estimates.


On a regional basis, the Midwest improved the most month-to-month (+21.3%), while Northeast sales slumped 29.4% for December.

The median sales price improved $3,300 in December to reach $248,900. At the current rate of new homes for sale, there is an estimated 4.9 months of supply.

Long-term trends continue to point up. Compared to December 2011, these newest numbers represent an 8.8% increase in new sales. For the 2012 year, an estimated 367,000 new homes were sold, 19.9% more than were sold than in 2011.

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  • Report this Comment On January 25, 2013, at 2:21 PM, carolynbeeb wrote:

    You know one of the contributing factor probably people not able to qualify for loans. After the past years many good folks credit is shot. If you find negative info remove it. Obviously the most important thing you must do is go to a reputable and established credit repair company. I know there are many out there but I think Lexington Law is proabably the best because of how long they have been in business (20 years) and that they get results. 

  • Report this Comment On January 14, 2014, at 9:36 PM, WindyCityMan wrote:

    Carolyn, I agree about the importance of hiring a reputable credit repair company. But, Lexington Law is not one that I would reccomend. They are on the expensive side of the scale as well as unbelievably sloooooow. Here's a look at how Lexington compares to other companies like Credit Firm:

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