WASHINGTON, D.C. – January 26, 2011 – (RealEstateRama) — Sales of newly built, single-family homes rose 17.5 percent to a seasonally adjusted annual rate of 329,000 units in December, according to newly released figures from the U.S. Commerce Department. The big gain, though largely tied to an unexpectedly strong showing in the West, was a welcome boost at the end of a year that had the lowest total number of new-home sales on record (321,000) since the government began keeping track in 1963.”After six very tough months, the housing market ended the year on an upbeat, with signs of stabilization beginning to take hold in many markets,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “That said, the nationwide inventory of new homes for sale is now at its thinnest level in more than 40 years. This is a sign that many builders still cannot obtain the credit they need to meet anticipated improvements in buyer demand in 2011.”
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