New Home Sales Drop 11.2% in January, Record Low

FoxBusiness.com ^ | 2/24/2010 | FoxBusiness

[deep]

Sales of newly built U.S. single-family homes unexpectedly fell to a record low in January, according to government data on Wednesday that hinted at potential trouble for the fragile housing market recovery.

[Nonstatist]

Unexpectedly !

[AD from SpringBay]

I can't believe I get to be the first person to type it: unexpected!

[Shelayne]

Sales of newly built U.S. single-family homes unexpectedly fell

Uh huh.

[moose2004]

How unexpectedly unexpected.

[gov_bean_ counter]

There’s that word again...

[TonyInOhio]

[Grunthor]

missed it by 15 seconds.

Unexpectamundo!

[LuvFreeRepublic]

Sales drop yet builders are still building more new homes. Sound like a plan, but the plan is not toooo sound.

[gov_bean_ counter]

Missed it by that much...

[MSgt Smith]

unexpectedly

[smokingfrog]

Too many existing home bargains out there. Why buy a new home?

[deep]

Builders are offering some great deals on new homes, but with unemployment rising, how many people are really left to buy?

[9YearLurker]

Bargain is an interesting concept in this market.

[ilovesarah2012]

Was this unexpected?

[reagan_fanatic]

[TSgt]

What we need is more commercial real estate!

;-)

[smaug6]

I expect much more unexpected news.

[NVDave]

I love the phrase “...hinting at potential trouble...”

This report’s decrease (along with the consumer confidence miss) is a “hint” like a girl kicking a guy right square in the nuts as a “hint” she’s saying “no.”

[4yearlurker]

I know that street sign well! Spent many a day & night cruising between Buena and Hammonton in South Jersey down Rt. 54 in the 1970s.

[rollo tomasi]

"Sales of newly built U.S. single-family homes unexpectedly fell..."

Unexpected bump for the unexpected.

The "favored" economists/Wire services butt-boys who cling to their Messiah, Barry Soetoro, must have a perpetual look of

everytime the numbers speak.

[unkus]

There’s that word again...

---

I expected to see it, didn’t you?

[Zeddicus]

Besides “unexpected”, the other tipoff to sure newspeak propaganda is the phrase “the recovery” or “the fragile recovery” or similar.

This one actually pisses me off more than “unexpected”. I just want to throw something every time I read or hear about “the recovery”. There is no frickin’ recovery!

[tobyhill]

WOW! This was “unexpected”!

[Jack Hydrazine]

Why buy a home when housing prices are supposed to drop another 12 percent this year nationally?

[Rome2000]

When it comes to marxism, expect the unexpected.

[AceMineral]

Wasn’t there a lot of snow and bad weather in January? Not good house shopping weather.

[kcvl]

I just want to throw something every time I read or hear about “the recovery”. There is no frickin’ recovery!

EXACTLY!!!

[kcvl]

I just want to throw something every time I read or hear about “the recovery”. There is no frickin’ recovery!

EXACTLY!!!

[rod1]

Obama’s fault

[Psycho_Bunny]

“We need better ‘expectors’”

[Le Chien Rouge]

Scenario:

Part of the ‘Social Justice’ redistribution of wealth plan created by the left will be for the Federal Government to buy/seize many un-occupied homes and give them to the so called ‘historically economically disfranchised’(low income,people of color,loyal Democrat voters) members of society in the name of fairness.

[SeattleBruce]

“Too many existing home bargains out there. Why buy a new home?”

Right - so instead of building jobs fueling a recovery, we’ve got temporary census jobs fueling the ‘recovery.’

How’s the recovery/hopey/changey thingy goin’?

[dfwgator]

There’s that word again...

[American Quilter]

Glad I’m not planning on selling my house any time soon. I might unexpectedly have trouble getting my price.

[benjibrowder]

Housing market recovery? What is this recovery you speak of?

[Texas resident]

Time to invent a new word here
unexpectedlyism

[SeattleBruce]

newspeak propaganda ...“the fragile recovery”
+++++++++++++++

Exactly! What a joke...they think we’re idiots...or as Beck says, ‘they think you dumb, dumb, dummies!’

[ari-freedom]

Inconceivable!

[TonyInOhio]

I know that street sign well! Spent many a day & night cruising between Buena and Hammonton in South Jersey down Rt. 54 in the 1970s.

No kidding! I had no idea where the sign was located - I just like the image. And, with this Administration, there seems to be limitless opportunity to post it. :)

[George from New England]

“Sales drop yet builders are still building more new homes.”

How much do you wanna bet that what is referenced above is a result of tax-payer subsidized building in undesirable neighborhoods anyway?

[MinuteGal]

Who's going to move when there's two feet of snow covering the environs, it's 10 above zero and the kids are in the middle of the school year?

Leni

[RetiredArmy]

HOPE AND CHANGE. HOPE AND CHANGE. ALL IS WELL WITH HOPE AND CHANGE. Allah bless the holy one in the White House. Ally Ally Acting Bar, or whatever it is he yells. Yes, hope and change. We are going to all be okay. Socialism works. Socialism: communism lite.

[going hot]

you need to have “unexpectedly” already on the processor, so you simply click a few and it is there....for unexpected predicaments.

[flintsilver7]

For many, buying a second home has never looked better. For example, I got in at a really bad time (not the worst, but close to it). However, as a sane individual, I did not borrow beyond my means by any stretch. As my wife and I were young and have since done well in our jobs, we are probably able to afford a second home without selling the first. It’s not an ideal situation and we certainly aren’t in the majority, but it does benefit somebody.

[American Quilter]

Part of the ‘Social Justice’ redistribution of wealth plan created by the left will be for the Federal Government to buy/seize many un-occupied homes and give them to the so called ‘historically economically disfranchised’(low income,people of color,loyal Democrat voters) members of society in the name of fairness.

And we all know how much value people place on things for which they don't have to pay. In addition, people who can't afford to pay for a home usually can't afford to maintain it, either. This scenario will result in many American middle- and lower-middle-class neighborhoods devolving into Detroit-like appearance, dragging down the value of the homes owned by people who spent their own money to purchase and maintain them.

[olivia3boys]

As a home buyer, this is very good news. Every week I hem and haw and debate a particular property, the list price gets lower and lower. It’s great! I’m saving thousands every week.

[Nobel_1]

WSJ Excerpt:

Demand for single-family homes fell 11.2% from the previous month to a seasonally adjusted annual rate of 309,000, the Commerce Department said Wednesday ...

year over year, sales were 6.1% down from January 2009.

(note: this sets a new “floor / bottom” in sales for this recession)

Regionally, January new-home sales dropped 35.1% in the Northeast, 11.9% in the West, and 9.5% in the South. Sales rose 2.1% in the Midwest.

[Psalm 144]

I’ve had a couple of contracts fall through. Professionals who could not get financing, I think.

[I still care]

I have three close friends who lost their homes the past few months.

I’m surprised anyone can sell a home here in FL.