January's New Homes for Sale Turn Down

Online, March 9, 2010 (Newswire.com) - According to the recent figures released by the U.S. Commerce Department new homes for sale has been decreased on their new home designs sales. Report stated that it fell up to 11.2 percent in January to a seasonally adjusted annual rate of 309,000 units. This according to home builders created some fear on what could happen if they don't fix it as soon as possible

From recent interviews on the management, Bob Jones the chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich said that "this disappointing report highlights just how fragile the economic and housing recovery is right now, and the uncertainties that continue to weigh on consumers, particularly with regard to concerns about job security."

Even though their interest rates have agreed to decrease in favour of the investors and home buyers, yet lot's of them has a huge doubt in accordance to invest in a new home for sale. They keep bugging about the situations on their economy before taking some investment deals.

Indeed the overall economic has a potential on increasing somewhat yet the homes for sale and economic improvement remains very tentative and undecided. From the statement of the NAHB Chief Economist David Crowe that he believes that lots of home seller are taking a good check, confirmation of development and enhancement first-hand, and are for that reason unenthusiastic to think about a new home buying.

"Meanwhile, competition from below-market-priced foreclosed and short-sale homes poses an additional challenge to the new-homes market right now. Although we continue to expect a boost in overall sales activity prior to the expiration of the $8,000 and $6,500 home buyer tax credits at the end of April, unseasonably poor weather across much of the country may delay the full impact of those incentives until closer to the deadline." Crowe added.