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Turns out February had the biggest increase in home sales in 2 years!!!
Repoman75
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What are you talking about?
At long last, a new home sale slump Sales in February drop more than expected, as median price falls and glut of houses for sale grows. Is the real estate bubble bursting? March 24, 2006: 10:32 AM EST
NEW YORK (CNNMoney.com) - New home sales fell more sharply than expected in February -- and with them, the median price of a new house -- in the latest signs of a slowdown in what had been a white hot housing market.
The Census Bureau reported sales at an annual rate of 1.08 million homes in February, down 10.5 percent from the revised rate of 1.21 million in January.
The report also showed a drop compared to a year earlier in the median price of a new home -- the level at which half of homes sell for more and half sell for less. In February the median price was $230,400, down $6,900, or 3 percent from February 2005.
While it is not uncommon that prices fluctuate month to month, a year-over-year decline in prices is far less common. February also marked the fourth straight month-over-month decline in median price since the record of $243,900 was reached in October. The current median is 5.5 percent below that record level.
Part of this could be because of a large increase in the number of homes on the market -- the report showed 544,000 new homes for sale, up about 24 percent from a year earlier. Some were under construction or not even started, but the supply of completed homes for sale also climbed to 123,000, up 15 percent from a year earlier.
The average price, which is inflated by the price of homes at the top of the market, actually rose 2.6 percent to $296,700.
Economists surveyed by Briefing.com had forecast that new homes would sell at a 1.21 million annual pace in the most recent period, but that would have been down from the previously reported 1.23 million pace the month before.
The decline in sales was not evenly spread across the country. The West saw a 29 percent drop in new home sales from January, while the South saw sales fall 6.4 percent, as the two hottest building markets slowed. But the Northeast and Midwest posted gains.
letitrideboy
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Sorry I live in my South World! Sorry for the confusion, sales in the south up 5 percent :-)
letitrideboy
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and to be more specific, Central Florida, Where the english love to come and buy :-)
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