New-Home Sales Down (Again)According to the Commerce Department, sales of new, single-family homes decreased by 14.7% in December to a seasonally adjusted annual rate of 331,000. Frankly, given the economy, accelerating layoffs, etc., it would have newsworthy if new-home sales hadn’t dropped hard. Silver linings? Not if you’re a builder, a contractor, or a developer....Read More
Foreclosures Explain Latest Housing Price DropThe most recent batch of housing statistics — from S&P/Case-Shiller and NAR — show that housing prices are continuing to fall nationally. Depending on how you slice and dice the market (sale pairs, top 20 markets vs. all markets, all homes vs. those under $417k, etc.), the year-over-year annual decline...Read More
