New Home Sales Plunge to 1991 Levels

Well, this shouldn't come as a surprise - the Commerce Department reported new home sales plunged to levels last seen in 1991, down 5.3 percent from September to October.
There's more at Bloomberg where Steven Wood, president of Insight Economics in Danville, California stated the obvious, "“The new home market remains extremely weak".

Comments

[sickofthehype:]

Good.

2008 Nov 27 06:23 AM

[maverta:]

great chart. thank goodness I sold my house in Florida (where nothing is selling today), back in June 2005, right at the peak. whew! If I think I'm broke now, can't imagine what would of happened if I didn't sell then. I'd be eating garbage.

2008 Nov 27 07:56 AM