new home sales: Any hope in sight prior to 2009?
- 12/28/07 03:42 AM
New home sales in the U.S. fell in November approaching an 11-year low and signaling the housing recession is not coming to an end anytime soon. The median forecast from Bloomberg was new home purchases fell to an annual pace of 717K, down from 728K in October.The level in September was 716K which was the lowest since 1996. Residential real-estate is already marred in the deepest slump in 16 years, and the discounts that mortgage companies are presenting are failing to lure buyers in. This problem is only being compounded by the large amount of foreclosures swelling due to the volume … (1 comments)
New home sales in the U.S. fell in November approaching an 11-year low and signaling the housing recession is not coming to an end anytime soon. The median forecast from Bloomberg was new home purchases fell to an annual pace of 717K, down from 728K in October.The level in September was 716K which was the lowest since 1996. Residential real-estate is already marred in the deepest slump in 16 years, and the discounts that mortgage companies are presenting are failing to lure buyers in. This problem is only being compounded by the large amount of foreclosures swelling due to the volume … (1 comments)
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