Designers and Architects
Katy Home Repair
We are a home remodeling
company located in the city of
katy, texas. We perform a
range of services from kitchen
remodels, bathroom
remodeling, interior & exterior
house painting, room
additions, fencing, siding,
roofing and much more.
More info at their web site:
www.katycontracting.com
Archive 2009
February 26, 2009 - Newly reported data from the U.S. Commerce Department indicates that sales of newly built, single-family homes
fell 10.2 percent to a seasonally adjusted annual rate of 309,000 units in January, which is a new record low.

“As disturbing as this report sounds, there is reason to believe that some potential home buyers may have purposely delayed action in
January as they waited to see how details of the President’s economic stimulus plan could affect a home purchase,” said Joe Robson,
chairman of the National Association of Home Builders (NAHB) and a home builder from Tulsa, Okla. “Now that those details are
known – particularly those relating to the new first-time home buyer tax credit and higher loan limits for government-backed
mortgages – we are hopeful that many buyers will be looking to take advantage of them in the coming months.”

“Clearly, the downward pressures that have been exerting themselves on the housing market remain in place, including the
weakened economy, ongoing job losses and very low consumer confidence,” said NAHB Chief Economist David Crowe. “But as more
home buyers find out about the newly enhanced tax credit, and other parts of the economic stimulus package start kicking in, we
expect to see some firming effect on home sales. The hope is that a certain amount of pent-up demand will be released as those who
were in a ‘wait-and-see’ mode decide they now have the information they need to proceed.”

Home builders continued to do a good job of reducing their inventories in January, with the number of new homes on the market
falling for a 21st consecutive month to 342,000 units. However, due to the historically slow sales pace, the months’ supply continued
to rise for a fourth consecutive month, to 13.3.

Three out of four regions posted declining new-home sales in January. Sales fell 5.6 percent in the Midwest, 6.5 percent in the South
and 28 percent in the West. The Northeast was only exception to the rule, registering a 12.5 percent gain for the month.

EDITOR’S NOTE: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or
influenced by any outside party prior to being released to the public. HMI tables can be accessed online at:
www.nahb.org/hmi. More
information regarding housing statistics is also available at
www.housingeconomics.com.
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FIND YOUR LOCAL BUILDERS'
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