New Home Sales Fall to Record Low in January

Sales of new homes fell 10 percent in January to a seasonally adjusted annual rate of 309,000 from 344,000 in December. This is the lowest level since the U.S. Census began keeping records in 1963. The median sales prices of new homes sold in January was down 15 percent to 201,000 from 232,400 a year ago. Here’s how sales fared by region:

* West: -28%
* South: -6.5%
* Midwest: -5.6%
* Northeast: +12.5%

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