Today's Census Bureau report on the number of new homes sold in August provides our first clear data for the impact on the housing market of the financial turmoil that began August 9. It is not a pretty sight.Digg It! , Bookmark to del.icio.us , My Yahoo! , ATOM Feed
In a typical year, most new home sales occur between March and August. In each of those months we usually might expect 35% more homes to be sold than at the seasonal low in December. This August, home sales were actually less than in December, the first time that's happened in the 44 years these numbers are available.
Thursday, September 27, 2007
The State of the Housing Market
Things are getting worse: