Sales in new-home communities of 10 units or more were 64 percent below the January 2008 rate, and down from the 59 percent year-over-year decline reported in December, according to the monthly CBIA/Hanley Wood Market Intelligence (HWMI) New Home Sales and Pricing Report.
"January figures were about what we expected, which is a continuation of a very weak sales pace," said Jonathan Dienhart, Director of Published Research for HWMI. "Conditions remain poor, but the sales trends suggest we may be closer to finding a floor in this market."
Source: California Association of REALTORS
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