Sales of New Homes Down 12% in January

Sales in new-home communities of 10 units or more in California declined 12 percent in January compared with a year ago, according to the monthly California Building Industry Association (CBIA)/HanleyWood Market Intelligence report (HWMI).  Though still at a lackluster pace, the decline was less steep than the 15 percent year-over-year decrease experienced in December, according to CBIA.  Sales of single-family homes declined 17 percent, while sales of townhomes and multiple-unit homes rose 8 percent.  Condominium sales declined 4 percent compared with a year ago, according to the report.



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