New Home Sales In Northern Virginia & Nationwide Fall In November

By Editor · on December 23rd, 2009 · Print This Post Print This Post

Email Me · My Website · Subscribe to my Feed


New Home Sales Fall In November

New Home Sales Fall In November

New Home Sales for the month of November Fall to 355,000. This compared to 400,000 in October.  A drop of 45,000 units. This is a drop of nearly 11.3% for the month of November compared to an increase of 1.8% in October.  Keep in mind this is based on contracts signed.

The median Home Price also fell from $221,600 in October to $217,400 in November.  Because of the low in New Home Sales, Inventories rose from a 6.5 month supply to a 7.2 month supply.

New Home Builders are competing head on with Foreclosures for Buyers.  This coupled with increasing interest rates and more stringent lending practices is challenging Home Builders both in Northern Virginia, and Nationwide.

Northern Virginia Real Estate

Print

This entry was posted on Wednesday, December 23rd, 2009 at 7:22 am and is filed under New Homes In Alexandria Virginia, New Homes In Arlington County Virginia, New Homes In Ashburn Virginia, New Homes In Clarke County Virginia, New Homes In Fairfax County Virginia, New Homes In Fauquier County Virginia, New Homes In Frederick County Virginia, New Homes In Loudoun County Virginia, New Homes In Northern Virginia, New Homes In Prince William County Virginia, New Homes In Washington DC. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply