Sales of new one-family houses in February 2009 were at a seasonally adjusted annual rate of 337,000. This is 4.7 percent above the revised January rate of 322,000, but is 41.1 percent below the February 2008 estimate of 572,000.
The median sales price of new houses sold in February 2009 was $200,900; the average sales price was $251,000, down 20% from last April.. The seasonally adjusted estimate of new houses for sale at the end of February was 330,000. This represents a supply of 12.2 months at the current sales rate.
Bottom line. In spite of these good new, sales are in a major downtrend (click on chart to enlarge) and prices are slumping.
I will be happy to speak to your investment group on how the business cycle impacts investment strategies and the choice of asset classes. To find out more about my in depth view of the markets and my strategy just visit our website https://www.peterdag.com/. You can review The Peter Dag Portfolio, free of charge of course. You can also call me at 1-800-833-2782 to discuss your specific money management needs.
George Dagnino, PhD
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