While housing starts took a big jump in January (LULR, Feb. 22, p. 7), the new-home sales report was not so rosy, the U.S. Commerce Department reported Feb. 27.(Briefly Noted)

Land Use Law Report, March, 2006

WHILE HOUSING STARTS took a big jump in January (LULR, Feb. 22, p. 7), the new-home sales report was not so rosy, the U.S. Commerce Department reported Feb. 27. Overall, sales fell 5.0 percent. The sales rate was 3.3 percent above January 2005. Sales were down 14.9 percent in the Northeast, 10.8 percent in the Midwest and 10.3 percent in the South.

In the West, sales rose 11.3 percent. David Seiders, chief economist for the National Association of Home Builders, said the group is still predicting a decline of about 7 percent in new-home sales for the year. He noted inventories of unsold houses are somewhat higher, though not at a worrisome level. Some builders are beginning to offer incentives to buyers.