Worst DIY Installs Ever Part 7
10 Must-Have Products for Your Next Install
6 Amazing High-End Home Theaters
8 Awesome Turntables for Spinning Vinyl
Print
Email
Comments (0)
Share
2011 Worst Year Ever for New Home Sales
Dept. of Commerce reports just 307,000 new homes were sold in 2011, representing the worst year since record-keeping began.
Sales of new homes in the U.S. officially hit rock bottom in 2011. The U.S. Department of Commerce reported a record-low number of new homes were sold in 2011.
The 307,000 (seasonally adjusted) sales of new homes is 6.2 percent lower than 2010 and the lowest number sold since 1963, which is the first year new home sales were tracked.
According to MarketWatch, the decline brings sales back to their level in October, wiping out a gain in November, when sales had risen to their highest level since April 2011.
The data is a blow to integrators focused on new construction who thought the housing market had turned the corner. The number of non-seasonally adjusted new homes that sold in 2011 was 302,000. Sales of new homes peaked at 1.28 million in 2005.
Because of the warm weather on the East Coast in December, economists had expected sales to be stronger. The inventory of unsold new homes on the market is 6.1 months. Likewise, the median price of new home is $210,300 for the year, down 12.8 percent, the lowest level since October 2010.
The 307,000 (seasonally adjusted) sales of new homes is 6.2 percent lower than 2010 and the lowest number sold since 1963, which is the first year new home sales were tracked.
According to MarketWatch, the decline brings sales back to their level in October, wiping out a gain in November, when sales had risen to their highest level since April 2011.
The data is a blow to integrators focused on new construction who thought the housing market had turned the corner. The number of non-seasonally adjusted new homes that sold in 2011 was 302,000. Sales of new homes peaked at 1.28 million in 2005.
Because of the warm weather on the East Coast in December, economists had expected sales to be stronger. The inventory of unsold new homes on the market is 6.1 months. Likewise, the median price of new home is $210,300 for the year, down 12.8 percent, the lowest level since October 2010.
Subscribe to the CE Pro Newsletter
About the Author
Jason Knott, Editor, CE Pro
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California.
Post a comment