New home sales fell in January
5 Mar, 2004Washington, D.C. — The U.S. Commerce Department reported that sales of new homes fell slightly in January, probably due to harsh weather. Analysts are expecting the record housing market of 2003 to start slowing down. New home sales and construction are important indicators of new business opportunities for landscapers and lawn care professionals.
Sales of new single-family homes slipped 1.7 percent to a seasonally adjusted 1.106 million annual rate from an upwardly revised 1.125 million rate in December.
U.S. housing starts in January also fell a sharper-than-expected 7.9 percent to their lowest since August.
The median new home sales price was $197,000, up 8.4 percent from $181,700 in the same month a year ago.
Check out the latest housing stats at the U.S. Census Bureau site.
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