New Homes: Not Moving
- Written by Mark Kuhar
September 1, 2011 – They don't build houses like they used to. In more ways than one. Sales of newly built, single-family homes held virtually unchanged in July with a 0.7 percent dip from the previous month to a seasonally adjusted annual rate of 298,000 units, according to newly released data from the U.S. Commerce Department. Regionally, new-home sales recorded declines of 7.4 percent in the South and 5.9 percent in the West, but rose 2.4 percent in the Midwest and actually doubled (100 percent increase) in the Northeast from a record low number in the previous month. We'll take whatever silver lining we can find when it comes to the housing market.