The U.S. Department of Commerce has reported that sales of new single-family houses in January 2012 were at a seasonally adjusted annual rate of 321,000. Compared to the revised December 2011 estimate of 324,000, January new home sales were down 0.9 percent.
The median sales price of new houses sold in January 2012 was $217,100; the average sales price was $261,600. The seasonally adjusted estimate of new houses for sale at the end of January was 151,000. This represents a supply of 5.6
months at the current sales rate, down from 6.1 months in December. So, the one positive from this report is that supply of new homes continues to decline, which will hopefully help the overall housing market find some balance.
Gregg D. Killoren
victoria1014
