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.

Armorthane
Corrosion Coatings for Protection and Repair

Buy POLYURETHANE or POLYUREA coatings and spray surfaces for years of proven chemical resistance, water- and weather-proofing, and structural improvements.


Novatek Corporation
Dustless Coatings Removal

Strip it, clean it, and profile it,
all dust free! High production
rates and Blast like finishes.
Comply with new lead
standards.


Bullard

The Next Generation
of Blasting

• Lightest
• Coolest
• Most Comfortable
• Most Dependable


Carboline Company
Hydrocarbon Fire & Jet Fire Protection

Pyroclad X1 is the latest breakthrough in epoxy based intumescent fireproofing technology


Midsun Specialty Products
Stopaq 30+ Year Coatings

Use Stopaq corrosion prevention coatings on pipelines, field joints, tank chimes, structural steel and more. Learn more at www.midsunsp.com/stopaq


WINOA Group
W Abrasives : Maintenance Pack

The blasting company able to reduce your maintenance costs up to 30% by fine-tuning consumption, and increasing productivity. Visit us during the GIFA (Hall15 - D14).


Absolute Equipment/Grand Rental Station
Portable Power from Absolute Equipment

•Compressors
•Lighting Systems
•Generators
•Light Compaction
Sales • Rental • Service
Call 1-866-931-6655
Over a century of
providing excellence.


Jessup Manufacturing Company
More Traction for Extreme Marine Conditions

Jessup Safety Track® 3800 Military Grade peel-and-stick non-skid tapes and treads provide extra slip resistance for decks. MIL-PRF-24467C Type XI, Black & Gray.


Advanced Recycling Systems
ADVANCED RECYCLING SYSTEMS (ARS)

Recycling Machines, Dust Collectors, Rapid Deployment units are time-tested and approved for the rugged industrial environment. Contact ARS today!
(330)536-8210

 
 
 
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