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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Travis_Bickle who wrote (239180)2/24/2010 10:04:13 AM
From: MulhollandDriveRead Replies (2) of 306849
 
oh yeah, calm indeed....more like dead in the water:

*U.S. NEW-HOME SALES FELL 11.2% TO 309,000 PACE IN JANUARY

U.S. new-home sales fall to record-low level
WASHINGTON (MarketWatch) - Sales of new U.S. homes plunged 11.2% in January to a seasonally adjusted annual rate of 309,000, the lowest rate on record dating back to 1963, the Commerce Department estimated Wednesday. Economists surveyed by MarketWatch forecast sales to rise slightly to 355,000, with buyers taking advantage of a new federal tax credit. Sales in December were revised higher to 348,000 from 342,000 previously reported. Sales are down 6.1% compared with January 2009's 329,000, which was the previous record-low rate. The number of homes for sale rose 0.4% to 234,000 in January. At the January sales pace, it would take 9.1 months to sell that inventory.
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