Single-Family Home Sales Dropped 11.2% In January

New figures released by the U.S. Census Bureau and the Department of Housing and Urban Development recorded a 11.2% decline in single-family home sales in January.

For January, single-family home sales were at a seasonally adjusted rate of 309,000, down from the December rate of 348,000. The January figures witnessed a 6.1% decline below the January 2009 figure of 329,000.

Furthermore, the median sales price of new houses sold in January 2010 was $203,500, and the average sales price was $254,500. The seasonally adjusted estimate of new houses for sale at the end of January was 234,000. This represents a supply of 9.1 months at the current sales rate.

SOURCE: U.S. Census Bureau


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