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Economy in Brief

New Home Sales Softer
by Tom Moeller December 23, 2004

Sales of new single-family homes fell 12.0% to 1.125M last month from an upwardly revised level in October. Consensus estimates had been for a decline in sales to 1.200M.

Sales fell throughout the country except in the South where they recovered 13.6% (11.5% y/y) following a sharp decline in October.

The median price of a new single family home slipped 8.2% m/m to $206,300 (-0.4% y/y).

Homes Sales (000s, AR) Nov Oct Y/Y 2003 2002 2001
New Single-Family 1,125 1,278 3.6% 1,089 976 907
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