New-Home Sales Fell to 12-Year Low in November
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New-home sales fell 34.4 percent from a year earlier, the biggest year-over-year drop since January 1991.
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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.
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Southern California home sales fell to a 20-year low in January, as buyers and sellers appeared to be waiting for market turbulence to pass, according to a report issued on Wednesday.
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Sales of new US homes tumbled at the sharpest rate in more than a decade in November, the government said yesterday, but a separate report showed the consumer's mood was still buoyant near the end of 2004.
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The outlook for the holiday season dimmed yesterday as the nation's retailers reported disappointing sales for November following an uninspiring Thanksgiving weekend.
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Depressed by turmoil in credit markets, existing home sales fell 4.3 percent, pushing activity to the lowest point in five years, the National Association of Realtors said.
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Sales of new single-family U.S.  homes fell 8.3 percent in August to a 795,000 annual sales  pace, its slowest rate in over seven years, while the inventory  of homes dropped, a Commerce Department report showed on  Thursday.
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Sales of new family homes in the US fell 8.3% in August to its slowest rate in more than seven years, figures show.
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Sales of new US homes fell at the fastest pace since records began in 2007, government figures show.
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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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America's consumers came off a buying binge and were somewhat less jolly spenders in November. New-home sales, meanwhile, cooled from a record high, while demand for big-ticket manufactured goods rebounded.
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Property prices fell further in November, while the time it took to sell a property lengthened, a survey finds.
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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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Consumer inflation dipped unexpectedly last month thanks to falling gasoline prices while new home construction hit a 12-year low as the housing slump continued to dim the outlook for growth.
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Consumer prices unexpectedly dipped 0.1 percent last month and new home construction hit a 12-year low, data on Wednesday showed, underlining concerns about the country's economic outlook.
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Sales of previously owned U.S. homes fell more than expected in December, ending a year that brought the sharpest housing slowdown since 1982 and the first annual drop in prices since the Great Depression.
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The number of new mortgages being approved for home buying fell again in November.