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US new-home sales down 7 percent in March

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posted on Apr, 25 2012 @ 01:34 AM
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US new-home sales down 7 percent in March
Breitbart Story


The U.S. housing market has suffered yet another devastating blow.

New home sales plummeted 7.1% in March !!

This is sales of New homes, not existing homes.

And this right in the middle of the "recovery" ??

Unless of course they simply say this is some sort of anomaly or fluke and not a trend (like it's been since the meltdown).


Sales of new homes fell in March by the largest amount in more than a year, indicating that the U.S. housing market remains under strain despite some modest signs of improvement.

The Commerce Department said Tuesday that sales dropped 7.1 percent in March to a seasonally adjusted annual rate of 328,000 units. That followed a 7.3 percent increase in sales in February. This figure was revised up from an initial estimate that February sales had fallen 1.6 percent.

The weakness in March could reflect that a warmer-than-normal winter caused sales that normally occur at the start of the spring sales season in March to occur in February instead.




Sales of new homes stand at just about half the roughly 700,000-a-year pace that analysts consider evidence of a healthy market.



What else will the "experts" tell us ??




posted on Apr, 25 2012 @ 01:40 AM
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Not a bad drop considering. I was in one of the worst spots in the US and New Home Purchases are what is selling right now. This is actually a good stat considering.

Not good though.



posted on Apr, 25 2012 @ 01:48 AM
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It's a trend.
just look !




posted on Apr, 25 2012 @ 01:53 AM
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Quite frankly, I'm astonished that there's 300k sales. Considering the overall economy on the ground, I expect maybe half that.



posted on Apr, 25 2012 @ 01:53 AM
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The Market was Manipulated. this is a reply to the graphic above. Not a trend.
edit on 25-4-2012 by hoochymama because: (no reason given)



posted on Apr, 25 2012 @ 01:53 AM
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Many homes are still grossly over-valued at a rate in excess of 3 times the average salary in the county they are located in.

It's like, duh.



posted on Apr, 25 2012 @ 01:57 AM
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Yep, this was no trend. I was a loan officer in one of the most exploited Counties in the Union. I didn't contribute but saw a lot. I helped my family hook up with good ass 30 year loans though so it worked out OK. Never took a 20% commission though. Took maybe 1.5% at the most. Swear to God 20% was going on. I saw at least 20 of the dumbest but most devious people make triple figures for 3 yrs straight.

Good news is that none of them have anything to show of it. I actually have more. LOL.
edit on 25-4-2012 by hoochymama because: (no reason given)



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