New Home Sales Hit Record Low In January 2010
Posted by Wesley Willoughby on Friday, February 26th, 2010 at 12:04pm.The Commerce Department recently reported that new home sales in the US have hit the lowest rate on record dating back to 1963. The January report of was the third straight month-month drop. New homes sales for January 2010 are down 6.1% percent from January 2009 which was the previous record low. Some experts are attributing the drop in sales to the pendiong expiration of the home buyers tax credit. The weather may have played a bit of a roll as well.
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