Big Drop in New-Home SalesBy
An eye-popping drop in new-home sales announced today by the Census Bureau.
Sales fell 10.5% from January to February. That put them 13.4% where they were in February '05.
Don't blame it on the big snowstorm that hit the Northeast, giving New York's Central Park a record snowfall: sales actually rose in the Northeast.
Other bad signs for the market: The median price fell $4,000 from January to $230,400. And the inventory of unsold homes jumped from 5.3 months' worth at the current rate of sales to 6.3 months' worth.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap’s Market Value
- China Regulator Seizes Anbang, Chairman Faces Fraud Prosecution
- The Two Words That Will Help Get an Airline Upgrade Over the Phone
- Snap CEO Evan Spiegel Got $638 Million in Year of Firm's IPO
- Apple Plans Upgrades to Popular AirPods Headphones