Most Active Stories
- New Assembly Minority Leader Talks Of 'Rebranding' California GOP
- Commentary: Just How Much Does California Want To Do For The San Joaquin Valley?
- Report: Groundwater Management Plans Need Significant Improvement
- In Clovis, Purple Pipes Give Recycled Water New Life
- Fresno Chef Gets New Start With High Speed Rail
Valley Public Radio Staff
Fri January 25, 2013
Sales Of New Homes Fell In December, But Were Up Sharply In 2012
Though there was a 7.3 percent drop in sales of new homes in December from November, sales were up a healthy 8.8 percent from December 2011, the Census Bureau and Department of Housing and Urban Development report.
Homes sold at a annual rate of 369,000 last month.
Over the whole year, the agencies estimate, there were 367,000 new homes sold — up 19.9 percent from the 306,000 sold in 2011.
Reuters says that despite the dip in December from November, housing "still appears set to be a bright spot in the country's economic recovery." And, it notes that:
"Government data for new home sales are subject to substantial revisions. Indeed, the Commerce Department raised its estimate for sales in November by 22,000 to a 398,000-unit rate, making the pace of sales in November the fastest since April 2010."