Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who were expecting a 5 percent increase over December's pace.
While winter storms were partly to blame, home sales have fallen for three straight months despite sweeping government support. Economists were already worried that an improvement in sales in the second half of last year could falter as various government support programs are withdrawn.
Having a home according to your planning is like dream come true. Everybody wants a beautiful home for himself. And what after you have got a new house. The main problem is to shift all your luggage into that. Many times either the luggage is missing or its broken. Not an easy task at all. But thank God there are many companies in the market which provide the facility to shift your home.
Posted by: International Moving | 05/17/2010 at 05:14 AM