{"id":96077,"date":"2009-12-23T10:09:00","date_gmt":"2009-12-23T15:09:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/new-home-sales-plunge-2009-12"},"modified":"2009-12-23T10:09:00","modified_gmt":"2009-12-23T15:09:00","slug":"housing-shock-new-home-sales-plunge-11-3-percent","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/96077","title":{"rendered":"HOUSING SHOCK: New Home Sales Plunge 11.3 Percent!"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4b0bd9860000000000ec080f&amp;maxX=439&amp;maxY=329\" border=\"0\" alt=\"vacanthome.jpg\" width=\"439\" height=\"329\" \/><\/p>\n<p>Sales of new homes in the US dropped 11.3% to an annualized rate of 355k units in November.<\/p>\n<p>The consensus was for a rise of 2.3%. to 438,000 from 430,000 a month earlier. &nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n<p>This is a really ugly number, far lower than the anticipated decline. It comes on the news of a 30K downward revision to 400k units annualized in October.<\/p>\n<p>New home sales are down 9.0% compared to November of last year when the annualized sales pace stood at 390k. That right: new home sales are worse than they were at the height of the financial crisis.<\/p>\n<p>Some additional data points:<\/p>\n<ul>\n<li>The <strong>median<\/strong> new home sales price was $217,400,&nbsp; a 3.8% increase over the month and a 1.9% decline over the past year. <\/li>\n<li>The <strong>average<\/strong> new home sales price increased 9.5% to $280,300 over the month, reflecting a 3.4% decline over the past year.<\/li>\n<li>The <strong>inventory<\/strong> of new homes available for sale at the end of the month dropped to a 7.9 month supply. That&#8217;s a decline of 5,000 to 235,000 units. <\/li>\n<li>Over the past year, new homes available for sale are down 36.5% while the inventory of new homes is down 30.7%. <\/li>\n<li>The<strong> South took the worst beating<\/strong>, with a decline in new home sales of 21.1&amp;. The West saw a decline of 9.2%. The Midwest saw the strongest performance, with sales rising 21.4% over the month. (Note: If you want to know why the home sales are heading in opposite ways regionally,<a href=\"http:\/\/www.businessinsider.com\/philly-feds-state-index-map-looks-its-best-in-20-months-2009-12\"> check out this map of the recession<\/a>.)&nbsp; <\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.businessinsider.com\/new-home-sales-plunge-2009-12#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/chart-of-the-day-new-and-existing-home-sales-2009-11\">CHART OF THE DAY: The &quot;Distressing&quot; Gap Between New And Existing Home Sales<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/new-home-sales-drop-36-percent-as-benefit-of-first-time-buyer-tax-credit-falls-off-apfn-2009-10\">New Home Sales Fall Off The Cliff <\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/chart-of-the-day-xxxx-2009-8\">CHART OF THE DAY: New Foreclosures Dwarf New Home Sales<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/Qi0er5HvXPc\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales of new homes in the US dropped 11.3% to an annualized rate of 355k units in November. The consensus was for a rise of 2.3%. to 438,000 from 430,000 a month earlier. &nbsp;&nbsp;&nbsp;&nbsp; This is a really ugly number, far lower than the anticipated decline. It comes on the news of a 30K downward [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-96077","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/96077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=96077"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/96077\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=96077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=96077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=96077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}