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New Home Sales Trending to New Lows HW+

Sep 27, 2011By

Sales of new single-family homes fell in August by 2.3% and are poised to reach new lows for the third consecutive year. According to data from U.S. Census Bureau and HUD, new home sales declined in August from a annual rate of 302,000 in July to 295,000.  Although the pace exceeded that of August 2010's rate of 278,000, new home sales are projected to reach a new low in 2011.  This would be the sixth consecutive year that new home sales have declined since peaking in 2005 at 1.2 million units.  Projected to reach and 303,000 units in 2011,

3d rendering of a row of luxury townhouses along a street

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