31
Jan
New Home Sales … Lowest Rate Ever
The Commerce Department reported this week that December sales of new one-family houses fell to a seasonally adjusted annual rate of 331,000, the lowest since data collection began in 1963. This sales rate was 14.7 percent below the revised November figure and 44.8 percent below the December 2007 estimate.
Some good news news from the report was a drop in the number of new homes for sale. The inventory of homes fell 10.1 percent to 357,000, the lowest since September 2003. San Diego real estate agents