Thursday, March 04, 2004

California Association of Realtors reports on new home sales for January

The California Association of Realtors (C.A.R.) reports that sales of new homes across the nation declined slightly in January as compared to December of 2003.

By region, the C.A.R. stated "Three regions registered sales declines for the month. The Northeast, South and West posted 5.0 percent, 2.1 percent and 3.9 percent declines, respectively, according to the report. The Midwest registered a 5.6 percent increase over the previous month. The inventory of new homes for sale in January increased to 370,000 units, a 4.1-month supply at the current sales pace -- quite low by historical standards."

Is this the beginning of a slow down in the real estate market?
We will see .....

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