Thursday, February 24, 2011

New Home Sales Down in January

It's no surprise to those of us who live in New Jersey that new home sales dipped 12.6% in January.  The weather was all but inviting for touring new homes under construction, or building them either.

According to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in January 2011 were at a seasonally adjusted annual rate of 284,000.

This is 12.6% (±11.2%) below the revised December rate of 325,000 and 18.6% (±15.4%) below the January 2010 estimate of 349,000.

The median sales price of new houses sold in January 2011 was $230,600; the average sales price was $260,300. The seasonally adjusted estimate of new houses for sale at the end of January was 188,000.

This represents a supply of 7.9 months at the current sales rate.

Now that the weather is warming up, call or email me when you are ready to start looking at all the great homes under construction in Mercer County and surrounding areas.  Take a look at one in Dogwood Meadows of Hamilton, and two in the Ridings of Robbinsville on my new home web site.

Joe Giancarli, SA
Real Estate Advisor

Find homes for sale using my new mobile app. Just text JOEG to 87778 and you will be sent download instructions. Once installed on your device, you will be able to do searches and see complete listing details including photos and prices. If your device is GPS enabled you will also see the listings on a map. (Data rates may apply.)

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