Annual Price Declines for New Single Family Homes Decelerated to Less than 2% in September 2009
The annual rate of price declines for new single family homes decelerated to less than 2% in September 2009, according to data published by the National Association of Home Builders (NAHB).
In particular, average prices for newly build single family homes in the US averaged $282,600, representing a year-over-year decline of only -1.6%. This represents the lowest annual rate of year-over-year decline in the last twelve months.
The annual rate of decline of prices for new single family homes has decelerated steadily in the last three months, and specifically from -9.8% in July down to -3.8% in August and -1.6% in September.
The annual rate of decline of average prices for newly-build single family homes in the US peaked at -14.2% in April 2009.
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