Recent Sales Report
I read the CNN and Yahoo articles reporting, "sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits".
That is some sad news. But is it accurate?
It is only NEW CONSTRUCTION homes sales. And it is a NATIONWIDE figure. It is being perceived by the public as bad news and is not giving the true facts.
I checked April to May statistics for existing home sales around the country to fill in the gap:
The Northeastern region fell only 18.3%. Sales are UP from a year ago.
Midwest sales remained stable in May and these too are UP from a year ago.
In the South, existing home sales increased by a half percent. Again UP from a year ago.
And the western states sales were UP 4.9%; this too was higher than a year ago.
Combining existing and new construction sales in North Seattle, the sales are UP 27% from April to May.
I know the news reports like to be doom and gloom ... to sell their news ... but this time, I had to share the real facts.