Sunday, March 6, 2011

New Home Sales Still Heading Down

We are yet to pay the full price for the excessive credit bubble that has fed the housing market for nearly a decade.

Excessive credit always leads to excessive corrections.

This trend/collapse of the new home market is yet to hit bottom as the Census Bureau announced recently that new home sales in January of 2011 came in at a 284,000 seasonally adjusted rate. This pace is down 18.6% from last January and it is the weakest demand for new homes going back over 40 years.

New Home Sales Continue Their Descent Into Oblivion

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