PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


New Home Sales Up, Prices Down

Thursday, October 30, 2008

Comment | More

Sales of new one-family houses in September 2008 were at a seasonally adjusted annual rate of 464,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development.

 

This is 2.7 percent above the revised August rate of 452,000, but 33.1 percent below the September 2007 estimate of 694,000. The median sales price of new houses sold in September 2008 was $218,400; the average sales price was $275,500.

The median price of a new home decreased by 9.1 percent from a year earlier, to $218,400--the lowest since September 2004. Sales were down 33 percent from September 2007, the Commerce report showed.

``Builders are seeing the light,' Mark Zandi, chief economist at Moody's Economy.com said in a Bloomberg Television interview. ``They are cutting prices more aggressively.' Still, ``there may be more cancellations than normal in September.'

On a positive note, builders cut inventories at a record pace. The number of homes for sale fell to a seasonally adjusted 394,000, the fewest since June 2004. The 7.3 percent decline from August was the biggest since record keeping-began in 1963.

The supply of homes at the current sales rate fell to 10.4 months' worth from 11.4 months. A five to six months' supply is often cited as signaling a stable market.

New residential sales data for October will be released Nov. 26 at www.census.gov/newhomesales.

   

Tagged categories: Residential

Comment Join the Conversation:

Sign in to our community to add your comments.

Nationwide Overspray
Profession Overspray Removal Services

The Finest Name in Safe Overspray Removal. We specialize in removing all contaminants from any surface. Family Owned and Operated for 33 years! Fully insured. Satisfaction is guaranteed.


SSPC: The Society for Protective Coatings
http://www.sspc.org/

Join SSPC and Enhance
Your Career !


CS Unitec
Work Cleaner and Safer

CS Unitec’s Vibro-Lo low-vibration scalers offer high performance for greater productivity & improved operator comfort. Optional dust shroud. info@csunitec.com


HoldTight Solutions Inc.
NO FLASH RUST -
NO CONTAMINANTS

Our HoldTight®102 salt remover & flash rust preventer prevents flash
rust by removing surface contaminants. It has no equal; only wannabees.
Contact us for your
nearest distributor.
(800) 319.8802 sales@holdtight.com


Harsco
BLACK BEAUTY® App

Download the free app for BLACK BEAUTY® Abrasives. Explore all the features from the palm of your hand.
Toll Free: 1-888-733-3646


Corrosion Probe, Inc.
From Detection to Correction

Corrosion Probe, Inc. has the Most Concrete Coatings Experience and Expertise. Contact us today at
860-767-4402, www.cpiengineering.com


KTA-Tator, Inc. - Corporate Office
KTA-TATOR LABORATORY SERVICES

• Coating failure analysis
• Independent
  comparative testing
• Accelerated
  weathering testing
• Toxic metals testing
• A2LA Accredited
800-245-6379


Abrasives Inc.
See the difference immediately Black Magic®

Quality blast abrasive goes farther. Use Black Magic® The Tough Stuff coal slag. Cleaner, consistent, less dust. Order yours today!
Abrasives Inc. 800-584-7524


Dow Polyurethane Systems
Choose the Right Coat

Dow’s high-performance, protective polyurethane spray elastomer system increases durability for steel and concrete applications.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com