U.S New Home Sales Decline 8.5 Percent In March
Sales of new one-family houses in March 2008 were at a seasonally adjusted annual rate of 526,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.5 percent (±16.1%)* below the revised February rate of 575,000 and is 36.6 percent (±11.1%) below the March 2007 estimate of 830,000.
The median sales price of new houses sold in March 2008 was $227,600; the average sales price was $292,200. The seasonally adjusted estimate of new houses for sale at the end of March was 468,000. This represents a supply of 11.0 months at the current sales rate.
HUD Raises Mortgage Limits In 14 High-Cost California Counties
The government on Wednesday raised the mortgage limits for loans guaranteed by the Federal Housing Administration in 14 high-cost California counties.
The Department of Housing and Urban Development released the new loan limits for California — a hotbed during the housing boom that now is suffering the worst home-price declines in the nation. The limits, with the maximum at $729,750, are derived from median home prices in each county.
HUD is expected to raise the limits in other counties nationwide in the coming days.
Read the entire article written by Marcy Gordan at www.MSNBC.com
26 Percent Drop in U.S. New-Home Sales for 2007
NEW RESIDENTIAL SALES IN DECEMBER 2007
Sales of new one-family houses in December 2007 were at a seasonally adjusted annual rate of 604,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.7 percent (±12.1%)* below the revised November rate of 634,000 and is 40.7 percent (±7.8%) below the December 2006 estimate of 1,019,000.
The median sales price of new houses sold in December 2007 was $219,200; the average sales price was $267,300. The seasonally adjusted estimate of new houses for sale at the end of December was 495,000. This represents a supply of 9.6 months at the current sales rate.