why are new homes struggling: Are New Homes Selling? - 05/03/11 08:45 AM
Are New Homes Selling?
While the real estate market has been struggling, the once highly desired new home has taken a back seat in the minds of the consumers. The foreclosures, fixer-uppers and short sales seem tantalizing to today’s homebuyers.
The existing home sales are down about 3 percent in the last year (latest data from the National Association of Realtors). However, according to the US Census new home sales have fallen 28 percent. New homes are currently more expense than the existing homes, as many of the existing homes are selling at deep discounts. These discounted homes accounted for 40 … (4 comments)