New home sales hit record low in January
New home sales plummet 11.2 percent in January to annual rate of 309,000, lowest on record
Martin Crutsinger, AP Economics Writer, On Wednesday February 24, 2010, 10:22 am
WASHINGTON (AP) -- Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who had expected sales would rise about 5 percent over December's pace.
New home sales hit record low in January - Yahoo! Finance
New home sales plummet 11.2 percent in January to annual rate of 309,000, lowest on record
Martin Crutsinger, AP Economics Writer, On Wednesday February 24, 2010, 10:22 am
WASHINGTON (AP) -- Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who had expected sales would rise about 5 percent over December's pace.
New home sales hit record low in January - Yahoo! Finance
