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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: nextrade! who wrote (17856)	2/26/2004 10:05:49 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

10:02am 02/26/04 U.S. Jan. new home sales slip to 1.11 million pace By Rex Nutting WASHINGTON (CBS.MW) - Sales of new U.S. homes dropped about 2 percent in January to a seasonally adjusted annual rate of 1.11 million, the slowest pace since May, the Commerce Department estimated Thursday. The number of new homes on the market rose about 1 percent to 370,000, the highest in eight years. The inventory represents about 4.1 months' worth of sales, up from 4 months in January and the highest since April. December's sales pace was revised higher to 1.13 million from 1.06 million. Economists were expecting steady sales of about 1.06 million in January. The median sales price was up about 8 percent since January 2002 to $197,000. The average sales price was up 12 percent to $258,600.