Chart usGOLD   Chart usSILVER  
 
Food for thought
Fight a dictatorship, and you must kill the regime; fight a democracy, and you must kill the people
Spengler  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1284.612.09
Silver 19.480.04
Platinum 1415.002.25
Palladium 891.301.55
WORLD MARKETS
DOWJONES 1712211
NASDAQ 4570-1
NIKKEI 15446-89
ASX 564914
CAC 40 43952
DAX 9570-18
HUI 2400
XAU 1000
CURRENCIES (€)
AUS $ 1.4129
CAN $ 1.4324
US $ 1.3197
GBP (£) 0.7955
Sw Fr 1.2069
YEN 136.9240
CURRENCIES ($)
AUS $ 1.0707
CAN $ 1.0853
Euro 0.7578
GBP (£) 0.6029
Sw Fr 0.9145
YEN 103.7550
RATIOS & INDEXES
Gold / Silver65.95
Gold / Oil13.70
Dowjones / Gold13.33
COMMODITIES
Copper 3.180.00
WTI Oil 93.74-0.14
Nat. Gas 4.010.00
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
New Home Sales Disappoint, Prices Keep Rising
Published : January 26th, 2013
253 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet
Keywords :   Government |

The Commerce Department reported(.pdf) that new home sales dropped from an upwardly revised annual rate of 398,000 units in November (originally reported as a rate of 377,000) to just 369,000 units in December, far below analysts’ expectations for a rate of over 400,000. Home prices, however, continued to rise.

The November sales rate was the highest since April of 2010, back when various government home buying incentive programs were underway. While down from the month prior, the December rate was one of the highest in recent years, representing a hefty 8.8 percent increase from a year earlier, though that’s hard to see in the graphic below because new home sales remain far below where they were a decade ago.

24hGold - New Home Sales Disap...

Full-year 2012 sales came in at 367,000, up nearly 20 percent from 306,000 in 2011, and the median sales price rose from $245,600 in November to $248,900 in December, now up 13.9 percent from a year earlier and the highest median price in more than five years. It’s worth remembering that new home prices can be deceiving due to builder incentives and other factors that are not reflected in the price, but, these price gains are consistent with other home price indexes showing double-digit year-over-year gains.

With 151,000 new homes on the market, a 4.9 month supply at the current sales rate, inventory remains near recent record lows despite increased activity by homebuilders that have seen housing permits and starts reach their highest level since early-2008, just before the start of the financial crisis.

Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Tim Iacono
All articles by
Tim Iacono
Next article by
Tim Iacono
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Tim Iacono

Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
Tim Iacono ArchiveWebsiteSubscribe to his services
Most recent articles by Tim Iacono
8/27/2014
8/26/2014
8/26/2014
8/26/2014
8/25/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer