national new single family sales

I always marvel at the lack depth of the questions main stream media. For 2012 all the talk about the “recovery” of the new construction single family sales market.

Soooooooo I thought let’s compare today to ten years ago to today and see what we shall see

#1 employment   2002     130,341,000     vs.     2012           133,238,000        an increase of  2.29%

#2 interest rates  2002     6.54%                   vs.     2012           3.66%                   a decrease of  44%

#3 Average income    2002      $31,899      vs.     2012           $42,503            an increase of  13.62%

#4 Consumer  CPI       2002    177.7             vs.     2012           231.325                an increase of  30%

#5 Sales Price new SF    2002    $185,025    vs.     2012           $239,636        an increase of  29.51%

#6 Monthly PI new SF    2002    $1,174.36     vs.     2012           $1,097.59       a decrease of  6.53%

#7 Number of new SF   2002       906,000        vs.     2012        317,000        an decrease of  61.92%

The thought to ponder with employment and income up, interest rates down actual cost to own down……………………

Why would new single family home sales be  almost 62% lower today than a decade ago in 2002?