New home sales fall by record amount
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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.
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Sales of new 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 U.S. homes tumbled to a  smaller-than-expected seasonally adjusted 1.072 million  annualized rate in July and a key inventory measure jumped to a  ten-year high, pointing to a rapidly cooling housing market, a  government report showed on Thursday.
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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.
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The number of existing homes sold also fell, suggesting that the sharp decline in home sales seen earlier this year has for now leveled off.
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New U.S. single-family home sales plummeted a record 26 percent in 2007 and builders slashed prices by the most since 1970 as they struggled to cope with a housing bust, a government report showed on Monday.
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US new home sales in July fell 6.4 percent to a 1.134 million annual rate, the year&#39;s slowest pace and a sign housing may provide less fuel for the economy in coming months.
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Reflecting further housing troubles, sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month.
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Analysts say 12 percent decline points to a slowing in demand because of higher interest rates. By Courtney Schlisserman. US sales of new homes fell 12 percent in November, the sharpest decline in more than
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WASHINGTON : US existing home sales tumbled 2.9 percent in July but the pace was still the third-fastest on record, boosted by cheap mortgages, an industry survey showed.
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Sales of new U.S. homes fell more  than expected in June to a seasonally adjusted annual 1.131  million rate and the median home price fell for the second  month in a row the government reported on Thursday, as the U.S.  housing market showed more signs of cooling.
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House hunters shied away from buying in July, driving down sales of previously owned homes to a 2 1/2-year low. The inventory of unsold homes climbed to a record high.
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U.S. new home sales fell more than expected in July to the their lowest pace since December, as higher mortgage rates cooled the housing market, a government report showed on Wednesday.
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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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New home sales posted the biggest drop on record in 2007, according to the government's latest look at the battered housing market released Monday, as a year that saw a meltdown in the mortgage market and a drop in home values ended with yet more signs of weakness.
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Sales of existing homes in the  United States fell by 3.3 percent in December from a record  November high, a trade association report showed on Tuesday.
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Sales of new homes, plunging to their lowest level in more than 12 years, were weaker than forecast last month - leaving the market glutted with unsold homes and pointing to more trouble ahead for the battered housing market.