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September 27, 2007
Today's Housing Bubble Post - New-Home Sales And Prices Plunge (Again)
-- by Dave Johnson
New-home sales plunge 8.3% to seven-year low,
Median sales price down 7.5% in past year, biggest drop in 37 yearsThe worst is yet to come. Maybe a year from now is the time to start thinking about loking for a bottom.Sales of new homes dropped 8.3% in August to a seasonally adjusted annual rate of 795,000, the slowest sales pace since June 2000, the Commerce Department estimated Thursday.
Sales are now down 21.2% in the past year, with no sign of a bottom in the crippled housing market.... The median sales price fell 7.5% to $225,700 compared with a year earlier, the largest year-over-year decline in 37 years.
Posted by Dave Johnson at September 27, 2007 9:26 AM
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New-homes sales tumbled in August to the lowest level in seven years, a stark sign that the credit c [Read More]
Tracked on September 27, 2007 5:29 PM
Comments
It could get worse. Sellers could start advertising that they take Schrute Bucks. Is the U.S. dollar the new Schrute Buck?
Posted by: Madison Guy ![[TypeKey Profile Page]](http://www.seeingtheforest.com/nav-commenters.gif)
at September 27, 2007 10:32 AM
It could get worse. Sellers could start advertising that they take Schrute Bucks. Is the U.S. dollar the new Schrute Buck?
Posted by: Madison Guy at September 27, 2007 10:33 AM
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