Posted on 01/28/2004 7:18:46 AM PST by Starwind
US Dec new home sales fell 5.1 pct
Wednesday January 28, 9:59 am ET
WASHINGTON, Jan 28 (Reuters) - U.S. Commerce Department reported sales of new single-family homes, seasonally adjusted, with percent changes from prior month (numbers in 1,000s). . Pct Dec Nov (Prev) Oct (Prev) Dec'02 Total Units -5.1 1,060 1,117 1,082 1,149 1,109 1,052 By Region: Pct Dec Nov (Prev) Oct (Prev) Northeast 12.2 92 82 72 87 77 Midwest 8.7 175 161 179 197 199 South -8.1 501 545 518 540 516 West -11.2 292 329 313 325 317 Total December sales of new single-family homes rose 0.8 percent from December 2002. In 1,000s: Dec Nov (Prev) Oct (Prev) Actual Units Sold 71 79 75 88 84 Sales Prices: Mean 261.1 268.7 274.4 243.2 244.0 Median 197.6 204.3 209.2 192.6 189.2 Note-Actual number of new single-family units sold is not seasonally adjusted. Monthly percent changes of total sales, seasonally adjusted, from prior months as follows: . Nov (Prev) Oct (Prev) Sep (Prev) Total Units -2.8 -2.4 1.8 -2.5 -5.1 -4.5 Number of Months: Dec Nov (Prev) Oct (Prev) Supply of Homes 4.3 4.0 4.1 3.9 4.0 1,000 units: Dec Nov (Prev) Oct (Prev) End-Month Inventory 374 366 363 362 358 FORECAST: Reuters survey of economists forecast: U.S. Dec new home sales annual rate of 1.100 million units HISTORICAL COMPARISONS/NOTES: U.S. DEC END-MONTH INVENTORY HIGHEST SINCE JUNE 1989 (375,000 UNITS) US 2003 HOME SALES +11.5 PCT TO RECORD 1.085 MLN UNITS FROM 2002 973,000 UNITS U.S. DEC NORTHEAST HOME SALES RATE HIGHEST SINCE SEPT 2002 (94,000 UNITS) US 2003 MEAN HOME SALES PRICE RECORD $244,800, MEDIAN RECORD $193,400
If new home sales are falling why are housing starts soaring? Are there any long term implications for this, one way or the other, or is this just a normal situation for the time of the year?
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