SALES OF NEW HOMES FELL BY 26% LAST YEAR

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NY TIMES Sales of new homes fell last year by 26 percent, the steepest
drop since records began in 1963, the Commerce Department said . . .
Prices have also fallen sharply. In December, the median price of a new
home fell to $219,200, down 10 percent from December 2006. For the year,
the median price of new homes rose just 0.2 percent, to $246,900. But
the median price of a previously owned single-family home fell for the
first time in at least four decades, the National Association of
Realtors said.  Last month alone, sales of new homes tumbled 4.7
percent, to a 604,000 annual rate, the smallest monthly sales figure
since February 1995.

http://www.nytimes.com/2008/01/28/business/28cnd-econ.html?ex=
1359262800&en=9e2a35a4db606013&ei=5090&partner=rssuserland&emc=rss


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