2009 sales of new homes weakest in 46 years
WASHINGTON - The weakest year for new home sales ended with a drop of 7.6 in December.
The Commerce Department said Wednesday that only 374,000 homes were sold last year, down 23 percent from a year earlier, making 2009 the weakest year on record since 1963.
It said that December sales fell to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000.
Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December.
The results were the weakest since March and indicated demand remains sluggish despite newly expanded tax incentives to spur sales.
The median sales price of $221,300 was down nearly 4 percent from $229,600 a year earlier, but up about 5 percent from November's median of $210,300.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
Sarra Sounds Off, Season 3, Ep 4: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Nassau Conference II football matchup between Calhoun at Carey, plus the comeback story of New Hyde Park's Gabriel Peter, an update on the high school fantasy football standings and the plays of the week.
