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United States Housing Sales Rate Keeps Falling |
Baja Real Estate & Economy News
 Baja real estate sales have suffered in the last year as the Northern Baja housing market depends greatly on the United States economy. The rate of new homes in the United States declined in a 11.5 percent in the past August and stayed at 460 thousand units, the lowest level in 17 years, informed the United States Department of Commerce.
Most analysts expected a sales rate of 505 thousand units during the past month.
New home sales have fallen 34.5 percent in one year, while the average price has increased in a 6.2 percent in that same period which was 221 thousand 900 dollars in August.
The National Association of Realtors (NAR) informed this Wednesday that the used home and apartments sales rate fell 2.2 percent in August and stayed at 4.91 million annual units.
Analysts expected a sales rate of 4.93 million annual units.
Within a year used homes have fallen 10.7 percent.
The average price of a used home has decreased 9.5 percent in a year and is now at 203 thousand 100 dollars.
While the housing market in the United States puts its hopes on the proposed economical bailout by George Bush, prices for real estate in Baja California are at an all time low, way below the average sales price than that in the United States.
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