December drop in home sales
Posted January 26, 2012
New Home Sales Nationally were down 2.2% in December according to the Commerce Department – ending the year as the worst New Home Sales Year on Record since the Commerce Department began keeping track of this data in 1963. The median price of New Homes also decreased – that figure was down 2.5%. However – the overall trend for the fourth quarter was an increase in sales.
Weekly Jobless Claims were up this week, increasing to 377,000 – a jump from last week when we saw a huge seasonal drop to 352,000. This fluctuation in numbers is somewhat expected due to the holiday season. The markets had a muted reaction to the numbers this morning.
Mortgage Rates are relatively flat as well this morning, following a seesaw day yesterday after the Fed’s Announcement.
The Dow, in early trading is at its highest level since May 2008 – we’ll see if that level stands throughout the day.
Check out the blog tomorrow as we’ll have my interview with Kristy Yule, Vice-President Marketing with Newland Communities. We’ll be discussing today’s New Home Sales data and how it compares with Triangle Trends from 2011 into 2012.