New home sales fall again in the us

New single family home sales in the United States fell 2.2% to an annual rate of 307,000 in December from 314,000 a month earlier, according to the latest data from the Commerce Department.

The seasonally adjusted rate, dropped 7.3% from 331,000 a year earlier. The preliminary estimate for actual new homes sold in 2011 came in at 302,000, 6.2% below 323,000 sold in 2010.

The figures are released as the National Association of Realtors call on the US government to make housing a national public policy priority.

‘Restoring the health of the housing market is the only way to achieve a broader economic recovery. Realtors believe that more must be done to stem the rising inventory of foreclosed homes and address the lack of available and affordable mortgage financing, which is inhibiting a meaningful housing market recovery,’ said BAR president Moe Veissi.

Source: PropertyWire.com