Thursday, May 24, 2007
Interesting! But when to jump in - that's the question!
Times online: US house sales soar on dive-bombing prices
Number of new American homes sold booms in April but only after the biggest drop in prices since 1970 housing crisis
Sales of new US homes rose a higher than expected 16.2 per cent in April, but only on prices which fell a record 11 per cent, their fastest decline in 37 years, according to a government report today.
The figures the fastest rise in numbers sold in 11 years, showed that house builders were having to offer massive discounts to offload unsold homes.
Posted by nopensionnohouse @ 06:51 PM (162 views) Add Comment
5 Comments
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1. confused76 said...
before jumping in, wait for prices to start moving up again, say after the first year of price gains above inflation
2. enuii said...
It would be very interesting to see the sales figures for pre-owned homes, its amazing how such stories are spun. "House Sales Soar" instead of "House prices Bomb" can't wait to see how a domestic story of this ilk is presented in our media!
3. harold said...
when to jump in - that's the question!
Indeed, but not yet - prices have much, much further to fall. The downturn has just begun. Case of dead cat bounce fooling speculators.
4. sold 2 rent 1 said...
Posted by Rick earlier
New Home Sales Up (but beware double digit monthly gains)
http://bigpicture.typepad.com/
5. harold said...
S2R1, that's a very good site.