More Data on Housing

From Calculated Risk:

"The Census Bureau reports New Home Sales in December were at a seasonally adjusted annual rate (SAAR) of 342 thousand. This is a sharp decrease from the revised rate of 370 thousand in November (revised from 355 thousand)."

More bad news in housing, probably why the Fed failed to include language in the FOMC statement about a "housing recovery." The housing market currently holds roughly an 8.1 months supply, which is well below the all times high of 12.4 months, but still considerably greater than the average of around 6 months. In December a record low 23,000 new homes were sold. With foreclosures rising, home sales continuing to fall, and prices stagnating, an end to the country's housing woes might not come for quite some time.