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Misty Williams on Real Estate ~

New home sales slump

July 27th, 2007, 3:58 pm · Post a Comment · posted by mistywilliams

June sales of new Valley homes were down 31 percent from May of last year, while building permits also continued to slide, according to the latest housing market statistics.So far this year, 19,437 new houses have been sold, a 22 percent drop from the 24,870 sold during the same period in 2006, a study by local analyst RL Brown shows. Permits were also down with builders taking out 3,490 permits for new homes in June, compared with 4,900 during the same month last year.Nationwide, sales of new homes fell 6.6 percent in June from the month before, dropping to a seasonally adjusted annual rate of 834,000 units. That’s down 22.3 percent from the June 2006 estimate of nearly 1.1 million units, according to the U.S. Census Bureau.June’s median sales price of new houses across the country was $237,900.

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