New home sales plunge a record 26 percent in '07
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Sales of new U.S. single-family homes plummeted a record 26 percent in 2007 and builders slashed prices by the most since 1970 in a struggle to cope with a housing bust, a government report showed on Monday.
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Sales of new homes rose 16.2 percent  in April, the sharpest climb in fourteen years, while prices  fell a record 11 percent, according to a government report on  Thursday that showed home builders taking extraordinary steps  to move houses.
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Sales of new homes unexpectedly plunged in November at the sharpest rate in more than a decade, falling 12 percent to the weakest annual rate since July, the Commerce Department said on Thursday.
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The prolonged slump in housing pushed new home construction in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.
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WASHINGTON - New-homes sales tumbled in August to their lowest level in seven years, a stark sign the credit crunch is aggravating an already painful housing slump.
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Home prices continued their plunge during the last three months of 2007, setting a real estate trade group's record for the biggest-ever quarterly drop.
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Sales of new U.S. homes were unexpectedly weak last month, although they climbed off an 11-year low, and orders for long-lasting goods fell, according to data Thursday that underscored the economy's weakness.
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WASHINGTON -- The prolonged slump in housing pushed construction of new homes in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.
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U.S. housing starts unexpectedly plummeted 13.1 percent last month, the biggest dive in nearly 11 years, as groundbreaking activity fell sharply across the nation, a government report showed on Thursday.
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The number of new US homes sales fell by a greater-than-expected 2.1% in May, official data shows.
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WASHINGTON -- Sales of existing homes plunged by a record amount in September as turmoil in mortgage markets added more problems to a housing industry in its worst slump in 16 years.
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Home sales slowed and a key measure of prices fell for the first time in 11 years last month, spurred on by the biggest glut of new homes on the market in more than a decade, an industry group said today. The National Association of Realtors report on existing home sales showed that the median home price in August was $225,000, down 1.7 percent from a year earlier.
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With the help of low mortgage rates, sales of both new and existing homes in the country are on track to hit new record highs for all of this year, analysts say.
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Sales of new single-family U.S. homes fell much more than expected to an annual rate of 647,000 in November, the slowest pace in more than 12 years, according to a government report on Friday.
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For the year, sales of single-family homes were down by 13 percent, the biggest drop since a 17.7 percent plunge in 1982. The median price for a single-family home dropped to $217,000.
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Sales hit their lowest rate in over seven years, as tighter credit and rising inventories hurt the housing industry.
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WASHINGTON -- Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes.