Printer Friendly

NAR ECONOMIST ANALYZES NEW-HOME SALES DATA

 NAR ECONOMIST ANALYZES NEW-HOME SALES DATA
 WASHINGTON, Jan. 31 /PRNewswire/ -- Following is an analysis by


Dr. John Tuccillo, chief economist for the National Association of Realtors (NAR), of the new-home sales data released today by the U.S. Department of Commerce:
 New-home sales activity in December, as well as November, was more volatile than is warranted by the market. While lower interest rates are bringing buyers back into the market, builders are still struggling as a result of the lack of credit available to them. This, in turn, has led to an uneven pattern of new home availability. As a result, we are seeing rather strange regional changes in new-home sales.
 We expect new-home sales to total 572,000 units in 1992, an increase of 13.5 percent from 1991.
 NAR, "The Voice for Real Estate," is the nation's largest trade association, representing more than 750,000 members involved in all aspects of the real estate industry.
 -0- 1/31/92
 /CONTACT: Lois Clinton, 202-383-1016, or Trisha Morris, 202-383-7560, both of the National Association of Realtors/ CO: National Association of Realtors ST: District of Columbia IN: SU: ECO


MH -- DC018 -- 5576 01/31/92 11:36 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 31, 1992
Words:197
Previous Article:PUBLIC HEARING SCHEDULED ON MICHIGAN'S COMMUNITY MENTAL HEALTH SYSTEM
Next Article:DEPARTMENT OF AGRICULTURE ANNOUNCES NEW INITIATIVES TO REDUCE PESTICIDE POLLUTION IN MICHIGAN
Topics:


Related Articles
NATIONAL ASSOCIATION OF REALTORS ECONOMIST ANALYZES NEW-HOME SALES DATA
Housing Sector Keeping Economy Afloat, NAR.
NAR forecasts another record year for home sales.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters