×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: US | New | Home | Sales

November New Home Sales Sink 11.3 Percent

Wednesday, 23 December 2009 10:19 AM

Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky.

The Commerce Department says November's sales fell 11.3 percent to a seasonally adjusted annual rate of 355,000 from a downwardly revised 400,000 in October. Economists surveyed by Thomson Reuters had expected a pace of 440,000.

Sales were down 9 percent from a year ago. The results suggest buyers will wait until spring before taking advantage of newly extended and expanded federal tax incentives designed to spur sales.

The median sales price of $217,400 was down nearly 2 percent from $221,600 a year earlier, but up about 4 percent from October's level of $209,400.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky.The Commerce Department says November's sales fell 11.3 percent to a seasonally adjusted annual rate of 355,000 from a downwardly revised...
US,New,Home,Sales
116
2009-19-23
Wednesday, 23 December 2009 10:19 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved