Tag Archives: New home sales drop 2.2% in December as 2011 hits record low

New single-family home sales fell 2.2% to an annual rate of 307,000 in December from 314,000 a month earlier, according to the Commerce Department. The seasonally adjusted rate, dropped 7.3% from 331,000 a year earlier. The preliminary estimate for actual new homes sold in 2011 came in at 302,000, 6.2% below 323,000 sold in 2010. Annual sales marked a new low since at least 1963, the start of Commerce Department records. For some perspective, builders sold 1.28 million new homes in 2005. Analysts surveyed by Econoday expected new homes sales […]