New Home Sales Down 22.3% From Last Year

[ThomWV]

http://money.cnn.com/2007/07/26/news/economy/new_home_sales/index.htm?cnn=yes

"Year-over-year, new home sales sank 22.3 percent.

The median price of a new home fell to $237,900, down 2.2 percent from $243,200 a year earlier. A glut of new homes on the market have pushed down prices and the government figures may not fully reflect the softness in new home prices, as roughly three-quarters of builders surveyed by their trade group say they are offering incentives such as covering closing costs or offering home features for free in order to support sales.

There were 537,000 new houses for sale at the end of June. That represents a 7.8-month supply of homes, according to the report."

How's that to get your day started?

[OrangeCountyDemocrat]

1. This Is Only The Beginning

I can only see things getting Much, Much, MUCH Worse!