PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


ECONOMIC PULSE:
Home Sales Continue to Falter

Thursday, March 25, 2010

Comment | More

Sales of new homes declined 2.2% in February to a seasonally adjusted annual rate of 308,000, down from a revised January rate of 315,000, the Commerce Department reported.

The February rate is 13% below the rate reported for February 2009, and marks a record low for sales, based on figures dating to 1963. New-home sales have slipped for four consecutive months.

Separately, the National Association of Realtors reported that existing-home sales also declined for a third straight month in February, hitting the lowest level since July 2009.

Winter storms in parts of the country were cited as a factor in the sluggish home sales, although observers say the weather can’t be blamed entirely for the housing industry’s continued woes.

Compared to January, new-home sales in February declined in all regions except the West, where an estimated increase of 20.8% was reported. Elsewhere, estimated sales fell 20% in the Northeast, 18% in the Midwest, and 4.6% in the South.

Compared to February 2009, new-home sales were flat in the Northeast, but fell a steep 18% in the Midwest, 29.5% in the South, and 34.8% in the West.

In the report on existing-home sales, the Realtors association said sales dipped 0.6% in February from January, to a seasonally adjusted annual rate of 5.02 million units. Sales in February, however, were up 7% from the same month a year earlier.

Regionally, existing-home sales in February rose 2.4% in the Northeast and 2.8% in the Midwest compared to January. Sales declined 1.1% in the South and 4.7% in the West.

   

Tagged categories: Economy; Housing; Residential

Comment Join the Conversation:

Sign in to our community to add your comments.

International Paint LLC

International Paint Engineered Coatings

Learn about our solutions for:
  • Structural Steel
  • Piping & Equipment
  • Storage Tanks
  • Pressure Vessels
  • Secondary Containment


    Modern Safety Techniques
    Modern Safety Techniques

    With our unique LTCat, we can help to provide clean, safe breathing air to your workers. Take a look at our Breathing Air Systems, we supply at least twice as much charcoal as our competitors! Modern


    Fischer Technology Inc.
    MP0R with rotating display screen

    View your coating thickness readings from any angle with rotating display screen. New graphic display with easy menu navigation. Click for Video
    Call 800-243-8417


    PaintSquare
    SSPC 2014 Product Demos

    Watch product demos by SSPC 2014 exhibitors. Check them out now!


    Safway Services
    One Source. Every Solution.

    The Safway Group is your source for multiservices. Painting, coating, insulation and more – all from the most trusted name in the industry.


    Surface Prep Supply
    Surface Prep Supply

    Blast It! Coat It! We have you covered every step of the way. Supplier of:
    • Abrasives
    • Equipment
    • Accessories
    • Protective Coatings
    888-331-7737(PREP)


    ITW Binks
    Built for Tough Jobs

    From Epoxies to Urethanes to other high solid coatings, the new Binks Airless 75 delivers a great finish using an ergonomic design. Visit binks.com for more information.

  •  
     
     
    Technology Publishing

    The Technology Publishing Network

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

     
    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 2000-2014, 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