WASHINGTON (AP) -- Sales of new homes dipped in January but only after the government said the final quarter of 2011 was stronger than first estimated.
The Commerce Department says new-home sales fell 0.9 percent last month to a seasonally adjusted annual rate of 321,000 homes. That followed four straight months of gains in which home sales rose 10 percent.
The gains came after the government upwardly revised October, November and December's figures. December's annual sales pace of 324,000 was the highest in a year.
Higher sales at the end of last year should bolster the view that the housing market is starting to revive. Still, new homes are selling well below the 700,000-per-year rate that economists equate with healthy markets.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus