chicago real estate news alert new home sales increase in february: Sales of New Homes Up 4.7% in February! A Sign of Rebirth?
- 03/25/09 03:21 PM
Greetings on a chilly Chicago night! Across the U.S., it appears that sales of new homes is on the rise! In February, sales of new homes rose 4.7% versus January, to an annualized rate of 337,000 units. Sounds encouraging, yes? Well, not completely! As summarized in Kelly Evans' article in today's Wall Street Journal, the median sales price for a new home was $200,900 last month, compared to $251,000 in February, 2008. Last month, nationwide, the median price of a home resale was $165,400. Indeed, many builders are scaling back features and amenities on their new homes, in an attempt to (6 comments)