Buying A House Has Never Been Cheaper
by admin - February 24th, 2010.Filed under: Uncategorized.
If you are in the market for buying a new house there has not been a better time than now.
Sales of new homes dropped last month to the lowest they have ever been since the government started keeping track back in 1963.
The seasonally adjusted annual rate of new home sales was reported at 11.2% to 309,000 for January. In December, the rate was 348,000. This caught many economist by surprised who expected January sales to rise to an annual rate of 354,000.
All while this was going on, an estimated 254,000 new homes went on sale. At the current sales rate, it will take 9.1 months to sell through that inventory.
January’s median new home sale price dropped $17,800 from the previous month’s sales. Like I said, if you are in the market to buy a house this is a good time to buy.