New Homes Sales Drop to Lowest Level in Nearly 7 Years
New home sales dropped in February to the lowest level since June 2000.
Total New Home Sales for January 2007Seasonally-Adjusted Annual Rate: 848 million units
Total New Home Inventory: 546,000 availableOne Month Change: Up 11.0%
One Year Change: Up 26.6% Supply at Current Sales Pace: 8.1 months
National Median Price for a New Home: $250,000 One Month Ago: $243,200 One Year Ago: $250,800 Source: U.S. Commerce Department
Existing Home Sales Continue to Climb in February Total Existing Home Sales grew in February 2007Seasonally-Adjusted Annual Rate: 6.69 million unitsOne Month Change: Up 3.9%
One Year Change: Down 3.6%
Total Existing Home Inventory was up as well
One Month Change: Up 2.9% Supply at Current Sales Pace: 6.6 months
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