New-home sales take a tumble

The Seattle Times reports that new home sales are dropping nationally:

New-home sales fell by the biggest amount in almost nine years last month while home prices declined for a fourth straight month, raising concerns that the once high-flying housing market could be in for a rougher-than-expected landing.

The Commerce Department reported Friday that sales of new single-family homes dropped by 10.5 percent last month to a seasonally adjusted annual sales pace of 1.08 million homes.

It was the second straight monthly decline after a 5.3 percent fall in January, and marked the biggest one-month drop since April 1997.

14 thoughts on “New-home sales take a tumble

  1. Joe,

    You make a good point and I’d definitely aware of the regional differences… But I don’t think the “misinformed” the pubic in that the facts are right. Nationally, things are doing so well, even if things are still relatively hot in the midwest (and Seattle!).

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