By John S. McClenahen Mild weather was a factor behind record sales of existing single-family homes in the U.S. in January. But so was consumer confidence. "We have had favorable housing availability conditions for some time, but what's new is the ...
ByJohn S. McClenahen Mild weather was a factor behind record sales of existing single-family homes in the U.S. in January. But so was consumer confidence. "We have had favorable housing availability conditions for some time, but what's new is the effect of a gradual increase in consumer confidence combined with a turnaround in the economy," says David Lereah, chief economist at the National Assn. of Realtors, Washington, D.C. In January, sales of existing single family homes were at a seasonally adjusted annual rate of 6.04 million, up 16.2% from December 2001's 5.2 million rate. The previous record was an annual rate of 5.49 million units, set in August 2001.
