Saturday, January 26, 2013

US new home sales slipped in December


Channelnewsasia.com
26 January 2013 0553 hrs

WASHINGTON: Sales of new homes in the United States fell in December from November, the Commerce Department reported Friday, but the entire year came in nearly 20 per cent over 2011, as the housing sector recovers from a deep crash.

December sales came in at an annual pace of 369,000, down from 398,000 in November but still at a pace better than most of the year.

The median price for homes sold gained 1.3 per cent, to US$248,900, US$30,300 higher than a year earlier.

Altogether in 2012, the department estimated, 367,000 new homes were sold, 19.9 per cent more than in 2011.

"Month-to-month volatility aside, the upward trend in new home sales continues," said Lindsey Piegza of FTN Financial.

"As consumers continue to clean off their balance sheets and buy into 'the housing market is stabilising' mentality, demand continues to filter in."


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