US New Home Sales Down for January
According to MarketWatch.com US new home sales is down 2.8% for January. The pace of sales is worst than what some economists had anticipated.
This decline marked a 13 year low and shows the latest sign of prolonged weakness in the US housing market. January 08 results is also comparably 33.9% lower than last year.
Government statisticians have low confidence in the monthly report which is subject to revisions, other sampling and statistical errors. According the government, it can take up to five months to establish a new trend in sales. Continue…
