homeWelcome, sign in or click here to subscribe.login
     


 

 

Construction


Subscriber content preview

January 27, 2012

2011 was worst ever for new-home sales

  • The median sales price for new homes dropped in December to $210,300 as builders slashed prices to stay competitive.
    • By DEREK KRAVITZ
    AP Real Estate Writer

    WASHINGTON — Fewer people bought new homes in December. The decline made 2011 the worst year for new-home sales on records dating back nearly half a century.

    The Commerce Department said Thursday new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.