No it is not a typo! Sales of new home in May 2008 fell 40.3 percent from May 2007. It is down 2.5% from April 2007. Spring season is MIA.
The inventory is at 10.9 months at the current rate.
I wonder if we will see any clowns calling for a housing bottom anytime soon.
1 comment:
Worst spring sales boost since records began to be kept in '63. No bottom in sight yet, and with Alt A about to explode, look out below.
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