New Home Sales Decline 9%

NEW HOME SALES DECLINE 9.0 PERCENT
Sales of new, single-family homes declined 9.0 percent in November 2007 according to new data from the U.S. Census Bureau and the Dept. of Housing and Urban Development.

The number of single-family homes sold was 647,000, compared with 711,000 units in October, and 34.4 percent below sales for November 2006 of 987,000. The median sales price of new homes sold in November was $239,100, while the average sales price was $293,300.

**Taken from the California Association of Realtors Bulletin, dated January 2nd, 2008.