New Home Sales down. Previous Revised upwards.

New Home Sales (December 2012)

– New Home Sales (seasonally adjusted, annualized) 369,000. Previous was 398,000 revised upward from the prior reported 377,000.

By comparison, before the housing bubble bust New Home Sales were in the 600,000+ range.  There is still inventory to clear from foreclosures and that inhibits building but only modestly. Rising prices offer incentive to build in those regions where more supply is needed.

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