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New-Home Sales Fell to 12-Year Low in NovemberQuicklink Submitted By Sheila Samples No comments
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| Sales of new homes plunged to a 12-year low in November, an annual pace of just 647,000, the government said Friday. That is the slowest pace since April 1995, when sales ran at a pace of 621,000.Statistically, the size of the slump is staggering. In the summer of 2005, annual sales of new single-family homes hit a high of 1.39 million. They have since dropped to an annual rate of 647,000""a loss of 53.4 percent. |
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.
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