Wednesday, June 25, 2008

New Home Sales Fall 40.3 percent!

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:

Anonymous said...

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.