This is a follow up to our post on 9/25/07. Perhaps it’s no surprise but a new report released shows that new home sales lagging as well. Here’s the details:
- Sales of new single-family homes fell 8.3%
- August volume was 795,000 units
- This marks the slowest pace since June 2000, seven years ago
- The median sales price of a new homes also fell 8.3% to $225,700
- The median sales price fell 7.5% from a year ago. This represents the largest drop (in terms of percentage) in nearly 37 years
