New Home Sales

Staff Photo: Jason Braverman
Gwinnett County used federal and state Neighborhood Stabilization Program (NSP) funds to purchase a dozen foreclosed and/or dilapidated homes in Lawrenceville and rebuild them to livable standards.

Staff Photo: Jason Braverman Gwinnett County used federal and state Neighborhood Stabilization Program (NSP) funds to purchase a dozen foreclosed and/or dilapidated homes in Lawrenceville and rebuild them to livable standards.

Buyers purchased the fewest number of new homes last year on records going back 47 years.
The Commerce Department says sales for all of 2010 totaled 321,000, a drop of 14.4 percent from the 375,000 homes sold in 2009. It was the fifth consecutive year that sales have declined after hitting record highs for the five previous years when the housing market was booming.
Economists say it could be years before sales hit a healthy rate of 600,000 units a year.
The year ended on a stronger note. Buyers purchased new homes at a seasonally adjusted annual rate of 329,000 units in December, a 17.5 percent increase from the November pace.


WILX.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WILX 500 American Road Lansing, MI 48911 517-393-0110
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 114649599