New-home sales plunge 8.5%!
Just when you thought it could not get any worse. The new-home sales dropped to a 17-year low to 8.5%. This even as home builders were slashing prices by a record amount.
New-home sales are down 36.6% compared to last year. The supply rose to 11 months. Median sales prices fell 13.3% to $227,600.
People are not buying home even as the prices are dropping.
No comments:
Post a Comment