Sales of New Homes Tumbled by 26% in 2007
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Evidence is mounting that 2007 was the worst year for the housing industry in nearly half a century.
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The housing market plunged deeper into despair last month, with sales of new homes plummeting to their lowest level in more than 12 years.
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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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The pace of sales of pre-owned homes  fell slightly in July to a 5.75 million unit annual rate and  the supply of unsold single-family homes hit its highest level  since 1991, the National Association of Realtors said in a  report on Monday.
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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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WASHINGTON - Sales of existing homes plunged a record amount in September while median home prices dropped by the largest amount in nearly a year, reflecting deepening problems in the troubled housing market.
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Sales of new U.S. homes tumbled at  the sharpest rate in more than a decade in November, the  government said on Thursday, but a separate report showed  consumers' mood still buoyant near the end of 2004.
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The average price of existing US homes shows its first annual decline in more than 11 years, a report shows.
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Sales of new single-family homes fell 4.7 percent in December while the median sales price fell 10.9 percent to $219,200 from November, according to a government report
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WASHINGTON -- Sales of new homes fell in May for the fourth time in the past five months, providing further evidence of a continued slump in housing.
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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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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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New-home sales in November dropped 9 percent from the previous month, and were down 34 percent from a year earlier, more dismal figures for an industry facing bloated inventory, declining prices and mortgage woes.
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The pace of existing home sales in the United States fell in April to a 5.99 million-unit annual rate while inventories swelled, the National Association of Realtors said in a report on Friday that showed more weakness than analysts had expected.
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New single-family home sales fell  4.7 percent in December to its lowest rate in nearly 13 years  while the median sales price dropped sharply and the inventory  of unsold homes climbed, according to a government report on  Monday that delivered more grim news for the battered housing  sector.
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The pace of existing home sales in July fell slightly to a 5.75 million unit annual rate and the supply of unsold single-family homes hit its highest since 1991, the National Association of Realtors said in a report on Monday.
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Sales of previously owned homes fell to a five-year low in July and the glut of unsold properties climbed to the highest since 1991 as the housing slump dragged on.