New single-family home sales fall to 312,000 rate

[marmar]

By Jeffry Bartash

WASHINGTON (MarketWatch) - Sales of new single-family homes fell 1.0% in June to an annual rate of 312,000, as purchases in the Northeast dropped to the lowest level on record, the Commerce Department reported Tuesday. Economists surveyed by MarketWatch had expected single-family home sales to increase to an annual rate of 325,000 on a seasonally adjusted basis. Sales for May were revised slightly lower to an annual rate of 315,000. The median sales price jumped 5.8% to $235,000 last month from $222,400 in May. At the current sales pace, there was a 6.3 months supply of new homes. The number of newly completed homes on the market at the end of June, meanwhile, fell to a record low of 164,000.


http://www.marketwatch.com/story/single-family-home-sales-fall-to-312000-rate-2011-07-26?link=MW_home_latest_news

[Yavin4]

1. No Jobs. No Houses.

And the inventory keeps piling up all. There are thousands of folks who believe that they will sell their homes to pay for their retirement. They are dead wrong. By the time they get to retirement, their house may be a fraction of what they hoped it would be.