Historical New Home Sales Chart

As shown from the Google News search above, New Home Sales rose 3.3% in April.  Had we gone into a coma in 2003 and just woken up today, we might look at these headlines and think things were pretty good.  But a look at the chart below paints a much better picture of the current state of the housing market.  If you get real close to your computer, you can see the blip of a rise in the historical chart of New Home Sales since 1963.  While New Home Sales did rise 3.3% in April, it was a month over month comparison.   The real story is that sales declined 42% year over year.    

Comments

[WAKEUP:]

And those prices are never, I said NEVER going to come back anyplace close to where they were. Owning a house (I do) is not what it is alleged to be. There's very little you can accomplish in an owned house that you cannot accomplish in a rented house.

2008 May 29 02:39 AM

[count_zero:]

What is the source of the chart data?? Good journalists want to know...

2008 May 29 07:48 AM