SALES OF NEW HOMES BEST SINCE LAST RECOVERY

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, February 3, 1993                   TAG: 9302030065
SECTION: BUSINESS                    PAGE: C6   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                LENGTH: Short
SALES OF NEW HOMES BEST SINCE LAST RECOVERY
Sales of new homes, which tumbled during three years of economic weakness, jumped 19.4 percent in 1992, the steepest increase since the last recession ended nine years ago, the government said Tuesday.
"The market is coming together throughout the country," said economist David F. Seiders of the National Association of Home Builders.
The Departments of Commerce and Housing and Urban Development said sales totaled 608,000 last year, the most since 650,000 were sold in 1989. Sales fell to 534,000 in 1990 and to 509,000 in 1991.
The Roanoke Valley Association of Realtors said sales of both new and existing houses totaled 252 in January, up 3 percent from January 1992.
"In 1992 we kept saying how our sales were so [much] up over 1991. To have 1993 numbers over 1992's is a good indicator that we're going to stay in a good market," said association President Anne Lee Stevens.
Locally, 180 of the houses sold for less than $100,000; 55 were $100,000-$200,000; 13 were in the $200,000-$300,000 range; and four sold for more than $300,000.
Staff writer Charlyne H. McWilliams contributed to this story.

by Archana Subramaniam by CNB