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 to an all-time high in 2004, the fourth straight annual record. But activity in December barely budged after a big drop the previous month, suggesting the nation's red-hot housing market may finally be cooling.
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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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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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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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New-home sales fell more than expected in November, tumbling 9 percent from October to a seasonally adjusted annual rate of 647,000.
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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 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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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 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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In traditionally weak quarter, sales increased 26% compared to last year.
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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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Sales of new homes plunged in August and prices posted their biggest year-on-year drop in nearly 37 years, the U.S. Commerce Department said on Thursday, underlining the depth of problems facing the housing sector.
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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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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 as a close to 2004 neared.
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Sales of new homes fell in June by the largest amount in four months while the inventory of unsold homes climbed to a record high, providing further evidence that the once-booming housing sector is slowing.
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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.