September 24, 2010
New Home Sales Drop 30% From '09
By Brandon Butler
Sales of newly constructed single family homes dropped almost 30 percent compared to last year, new government data shows.
Last month, there were a seasonally adjusted 288,000 new single family homes sold, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development estimates. That's a 28.9 percent decline from the August 2009 figure of 405,000. The rate is basically unchanged from the previous month.
The median sale price of new single family homes nationwide was $204,000 while the average price was $248,000. There were an estimated 206,000 new single family homes on the market at the end of last month, the government reported.
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