December 23, 2004 09:36 AM
New Home Sales Tumble
Excerpt: Sales of new homes unexpectedly plunged in November at the sharpest rate in more than a decade, falling 12 percent to the weakest annual rate since July, the Commerce Department said on Thursday.
Sales of new homes unexpectedly plunged in November at the sharpest rate in more than a decade, falling 12 percent to the weakest annual rate since July, the Commerce Department said on Thursday.
The November sales tumble, which was well below Wall Street forecasts for a 1.20 million unit rate, followed a revised 4.2 percent increase in October to a rate of 1.278 million. Previously, the October rate had been reported as 1.226 million.
November's 12 percent drop was the sharpest since a 23.8 percent plummet in January 1994, while the sales rate was the slowest since 1.095 million in July.
The report is the second in a week signaling a possible slowdown in the nation's red-hot housing market.
Last week, housing starts in November posted the biggest drop in nearly 11 years, raising worries about the housing market and the strength of home prices in the long run.
The Commerce Department said starts on new homes and apartments slumped 13.2 percent to a seasonally adjusted annual rate of 1.77 million last month from a revised 2.04 million pace in October. Economists surveyed by Briefing.com had forecast housing starts would come in at a 1.98 million pace.
Sales last month faltered in every region except the South - the largest regional market -- where they were up 13.6 percent. By contrast, sales fell 7.1 percent in the Northeast, 27.9 percent in the West and by a whopping 39.4 percent in the Midwest.
READ FULL STORY ...Fed Chief Sees Home Price Bubble - Feb 21, 2005
Title Insurance Protects Lenders. So Why Shouldn't They Pay for It? - Feb 10, 2005
The Shiller Interview - Jan 25, 2005
HELOC Rates Move Closer To Home Equity Loans - Jan 23, 2005
Finding an Affordable Home Gets Harder - Jan 17, 2005
If you're paying off student loans, check out the tax deductions available to you. - Jan 17, 2005
What Is Your Home Worth? - Jan 04, 2005
U.S. Sales Of Existing Homes Hit Record - Dec 29, 2004
What Length Mortgage Should You Get? - Dec 27, 2004
Maneuvering Property-Swap Tax Details - Dec 27, 2004
No Money Down - Dec 24, 2004
If The Bubble Bursts... - Dec 18, 2004
Housing Starts Tumble, But ... - Dec 18, 2004
A New Way to Hedge Your Home's Paper Profit - Dec 12, 2004
California, U.S. in a Housing 'Bubble,' UCLA Forecast Says - Dec 11, 2004
21st-Century Landlords - Dec 10, 2004
Get Real About Real Estate - Dec 09, 2004
Can There Be Too Many Homeowners? - Dec 06, 2004
Selling Your Home - Dec 06, 2004
Conforming Mortgage Loan Limits Rise For 2005 - Dec 04, 2004
12 Tips For Wise Use Of Equity - Dec 01, 2004
Housing Wealth Reverberates - Nov 30, 2004
More Mortgages To Be 'Conforming' - Nov 30, 2004
Realtors Engage In Turf Battle With Discounters - Nov 28, 2004
Expanding The American Dream Commitment - Nov 26, 2004
'Tis the Season to Fix Up Your House - Nov 26, 2004
Sell Your Home — Fast - Nov 26, 2004
Most Expensive Gated Communities In America 2004 - Nov 26, 2004
Exchanging Real Estate Tax Free - Nov 25, 2004
Home Equity For The Holidays? OK, With Caution. - Nov 25, 2004
Does It Pay To Save? - Nov 23, 2004
The High Earner/Poor Saver - Nov 20, 2004
Six-Figure Zip Codes - Nov 20, 2004
Buyer's Home Feature Preferences Reflect Lifestyles - Nov 16, 2004
Pattern of Strong Home-Price Gains Continues in Most Metro Areas - Nov 16, 2004
• Structured Settlements
www.setcap.com - cash for structured settlements, sell annuity, lottery winnings, and more.
• Personal Finance: Finance News Today provides money saving tips, news, and articles on personal finance issues like insurance, real estate, college planning and much more.
• Compare all our 0% Credit Card UK against our 0% balance transfers and cash back deals.
• Browse through our Credit Cards deals and apply online.
• financial tip - financial tips article and more.
• Arizona llc - incorporate a arizona llc. they offer solutions for limited liability company asset protection in arizona and california. incorporation services are provided online with 24 hour filings and expedited approvals. www.paralegal-plus.com for cpa lawyers.
• Credit Repair
repairmycreditnow.com/Credit_Repair_Advice.htm - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process â„¢.
• Citibank Home Equity Lines of Credit: Rates as low as Prime - 0.50% variable APR for Life, currently 5.50% variable APR.
• Day Trading - day trading signals for active stock and options traders.
• Ken Langone - ken langone: make my day
• Credit Repair - repair my credit now credit services offers credit repair, restoration and education through our exclusive "v" phase process â„¢
• Online Option Trading - oexoptions is an oex online stock option trading company offering a free 15-day trial for all new customers.
• fix bad credit
Want to See Your Ads Here? Claim Your Ad Space at Personal Finance Weblog by Writing to Webmaster. Starting at $25/month, see your text ads in more than 2,000 indexed pages at PFBlog, the Best Personal Finance Blog, or MM Money, MM's Daily Personal Finance Readings. Full Rate Card Available Here.
