- For Many in US, It Will Be a Scaled-Down Holiday Season
- US Bonds Pare Losses After 7-Year Auction
- New-Home Sales Jump to Highest Level in Over Year
- Judge Erases Couple's $525,000 Mortgage Payment
- Claims Level Suggests End to Job Losses
- Consumers Catching the Holiday Spirit
- Airlines Hit With Penalties for Stranding Passengers
- Consumer Mood Improves, but Anxiety Over Finances
- Jobless Claims Below 500,000, Durable Orders Slip
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- S&P Stocks Trading at New 52-Week Highs
- 4 Food Stocks to Stuff in Your Portfolio: Analyst
- S&P at 1050-1200 Trading Range Next Year: Strategist
- Treasury On Mortgage Modifications
- Blue Jeans Expected to See Another Green Christmas
- Investors Thankful for Gains This Year
MOST SHARED
- Ritz-Carlton ?Struggling? in the US: President
- Garlic Price Rises Surpass Gold, Stocks in China
- New-Home Sales Jump 6.2% To Highest Level in Over Year
- Half of Banks' Losses May Still Be Hidden: IMF Head
- Oil Price to Average $75.40 in 2010: Poll
- S&P Stocks Trading at New 52-Week Highs
- Americans Ditch Planes for Trains this Thanksgiving
- Consumer Mood Improves, But Anxiety Over Personal Finances
- Jobless Claims Below 500,000, Durable Orders Slip
Text Size 
New U.S. single-family home sales fell 2.8 percent in January to the lowest rate in nearly 13 years while the median sales price slipped and the housing overstock shrank, according to a government report on Wednesday that delivered more grim news for the ailing housing sector.
 |
AP |
Economists polled by Reuters were expecting January sales to fall to an annual rate of 600,000 from the December previously reported rate of 604,000.
In January, the median sales price for a new home fell 15.1 percent $216,000 from $254,400 a year ago.
There were 482,000 homes for sale at the end of the month, a 2.2 percent decline from December, but the months' supply crept up slightly to 9.9 months at the current pace, the highest since October 1981.
The report came a day after the National Association of Realtors reported that sales on previously owned homes slid for the sixth straight month while prices tumbled 4.6 percent.
In Wednesday's Commerce report, the West was the only region to see an uptick of the sales pace with a 2.2 percent rise while sales slid 10.3 percent in the Northeast, 7.6 percent in the Midwest and 2.4 percent in the South.
Print
Email
- Here's how key provisions of the health care reform bill would impact your insurance and how you'll pay for it.
- Remember when auto shows were major events where new models could generate buzz?
- It may be the most unusual guide to business you'll read.
- After nine years the NBA’s minor league equivalent is finally coming into its own.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes