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.




