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